Mad River Investors Has $8.29 Million Position in Mesabi Trust (NYSE:MSB)

Mad River Investors lifted its holdings in Mesabi Trust (NYSE:MSB) by 0.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 294,901 shares of the mining company’s stock after purchasing an additional 1,832 shares during the period. Mesabi Trust comprises approximately 3.9% of Mad River Investors’ portfolio, making the stock its 5th largest holding. Mad River Investors’ holdings in Mesabi Trust were worth $8,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quent Capital LLC bought a new position in Mesabi Trust during the 3rd quarter worth $159,000. Apollon Wealth Management LLC acquired a new stake in shares of Mesabi Trust in the 3rd quarter worth about $344,000. EagleClaw Capital Managment LLC lifted its position in Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock valued at $3,316,000 after purchasing an additional 31,900 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Mesabi Trust by 7.2% during the 3rd quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock valued at $11,278,000 after purchasing an additional 33,411 shares during the period. Finally, Horizon Kinetics Asset Management LLC grew its position in Mesabi Trust by 1.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock worth $60,240,000 after purchasing an additional 37,417 shares during the last quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th.

Mesabi Trust Stock Up 0.1 %

MSB stock opened at $28.73 on Tuesday. The company has a 50-day simple moving average of $27.25 and a 200 day simple moving average of $22.82. The company has a market capitalization of $376.87 million, a P/E ratio of 4.10 and a beta of 0.85. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $29.72.

Mesabi Trust (NYSE:MSB) last posted its quarterly earnings data on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be issued a $5.95 dividend. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 30th. This represents a $23.80 annualized dividend and a dividend yield of 82.85%. Mesabi Trust’s dividend payout ratio is 22.25%.

Mesabi Trust Profile

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. Mesabi Trust was founded in 1961 and is based in New York, New York.