OFI Invest Asset Management Takes Position in Mesabi Trust (NYSE:MSB)

OFI Invest Asset Management acquired a new stake in shares of Mesabi Trust (NYSE:MSB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,400 shares of the mining company’s stock, valued at approximately $988,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlas Wealth Partners LLC bought a new stake in shares of Mesabi Trust during the fourth quarter valued at approximately $202,000. Moors & Cabot Inc. increased its position in shares of Mesabi Trust by 7.2% during the third 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. Mad River Investors increased its position in shares of Mesabi Trust by 0.6% during the fourth quarter. Mad River Investors now owns 294,901 shares of the mining company’s stock valued at $8,290,000 after purchasing an additional 1,832 shares during the period. Horizon Kinetics Asset Management LLC increased its position in shares of Mesabi Trust by 1.4% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock valued at $60,240,000 after purchasing an additional 37,417 shares during the period. Finally, EagleClaw Capital Managment LLC increased its position in shares of Mesabi Trust by 27.9% during the third 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 period.

Analyst Ratings Changes

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

Mesabi Trust Price Performance

Mesabi Trust stock opened at $24.31 on Monday. The stock has a fifty day moving average price of $27.58 and a two-hundred day moving average price of $25.28. Mesabi Trust has a 52-week low of $15.93 and a 52-week high of $37.00. The firm has a market capitalization of $318.99 million, a P/E ratio of 3.47 and a beta of 0.76.

Mesabi Trust (NYSE:MSB) last released 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 return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were paid a dividend of $5.95 per share. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. This represents a $23.80 annualized dividend and a yield of 97.89%. The ex-dividend date of this dividend was Thursday, January 30th. Mesabi Trust’s dividend payout ratio is currently 339.51%.

Mesabi Trust Company 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.