Mesabi Trust (NYSE:MSB) Upgraded at StockNews.com

StockNews.com upgraded shares of Mesabi Trust (NYSE:MSB) from a hold rating to a strong-buy rating in a report issued on Monday morning.

Mesabi Trust Price Performance

Shares of NYSE:MSB opened at $28.59 on Monday. The stock has a market cap of $375.10 million, a price-to-earnings ratio of 21.18 and a beta of 0.85. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $29.72. The stock’s 50 day moving average price is $25.93 and its 200 day moving average price is $21.06.

Mesabi Trust (NYSE:MSB) last posted its quarterly earnings data on Friday, December 13th. The mining company reported $5.97 EPS for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Mesabi Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 5.46%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, October 30th. Mesabi Trust’s dividend payout ratio is presently 22.25%.

Hedge Funds Weigh In On Mesabi Trust

Hedge funds have recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC lifted its stake in 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 last quarter. Moors & Cabot Inc. lifted its position in shares of 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 acquiring an additional 33,411 shares during the last quarter. Beddow Capital Management Inc. boosted its stake in shares of Mesabi Trust by 0.7% during the 2nd quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after acquiring an additional 3,028 shares in the last quarter. Mad River Investors boosted its stake in shares of Mesabi Trust by 0.5% during the 3rd quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock worth $6,638,000 after acquiring an additional 1,423 shares in the last quarter. Finally, EagleClaw Capital Managment LLC grew its holdings in shares of Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after acquiring an additional 31,900 shares during the last quarter.

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.