Pecaut & CO. Raises Position in Mesabi Trust (NYSE:MSB)

Pecaut & CO. grew its position in shares of Mesabi Trust (NYSE:MSB) by 22.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,700 shares of the mining company’s stock after acquiring an additional 4,000 shares during the period. Pecaut & CO. owned about 0.17% of Mesabi Trust worth $371,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MSB. Beddow Capital Management Inc. grew its stake in Mesabi Trust by 1.2% in the first quarter. Beddow Capital Management Inc. now owns 459,287 shares of the mining company’s stock worth $8,129,000 after purchasing an additional 5,655 shares during the period. Mad River Investors grew its position in shares of Mesabi Trust by 2.0% in the 2nd quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock worth $5,025,000 after buying an additional 5,809 shares during the period. OFI Invest Asset Management bought a new position in shares of Mesabi Trust in the 2nd quarter worth about $576,000. NBC Securities Inc. lifted its position in Mesabi Trust by 5.4% during the 1st quarter. NBC Securities Inc. now owns 16,670 shares of the mining company’s stock valued at $295,000 after acquiring an additional 860 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Mesabi Trust by 38.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,760 shares of the mining company’s stock valued at $220,000 after acquiring an additional 2,961 shares during the period.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Mesabi Trust from a “buy” rating to a “hold” rating in a research note on Monday.

Mesabi Trust Trading Up 23.9 %

Mesabi Trust stock opened at $20.77 on Thursday. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $22.39. The company has a market capitalization of $272.50 million, a price-to-earnings ratio of 12.66 and a beta of 0.83. The business’s fifty day simple moving average is $17.28 and its two-hundred day simple moving average is $17.42.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings results on Thursday, June 13th. The mining company reported $0.27 earnings per share (EPS) for the quarter. The company had revenue of $6.25 million for the quarter. Mesabi Trust had a net margin of 74.00% and a return on equity of 83.21%.

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.78%. The ex-dividend date was Tuesday, July 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.29. Mesabi Trust’s dividend payout ratio is currently 73.17%.

Mesabi Trust Profile

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