Beddow Capital Management Inc. Has $10.16 Million Position in Mesabi Trust (NYSE:MSB)

Beddow Capital Management Inc. lowered its stake in shares of Mesabi Trust (NYSE:MSB) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 448,666 shares of the mining company’s stock after selling 13,649 shares during the period. Mesabi Trust makes up approximately 4.2% of Beddow Capital Management Inc.’s holdings, making the stock its 6th biggest holding. Beddow Capital Management Inc.’s holdings in Mesabi Trust were worth $10,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSB. Moors & Cabot Inc. boosted its position in Mesabi Trust by 28.3% in the 2nd quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock valued at $8,003,000 after buying an additional 102,520 shares during the last quarter. OFI Invest Asset Management acquired a new position in Mesabi Trust during the 2nd quarter valued at about $576,000. Apollon Wealth Management LLC bought a new position in shares of Mesabi Trust in the 3rd quarter valued at about $344,000. Quent Capital LLC acquired a new stake in shares of Mesabi Trust during the 3rd quarter worth approximately $159,000. Finally, Mad River Investors boosted its stake in Mesabi Trust by 2.0% in the second quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock valued at $5,025,000 after acquiring an additional 5,809 shares during the last quarter.

Mesabi Trust Stock Up 0.8 %

Shares of NYSE:MSB opened at $25.71 on Tuesday. The company has a 50 day moving average price of $23.90 and a two-hundred day moving average price of $19.62. Mesabi Trust has a 52 week low of $15.93 and a 52 week high of $26.98.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings data on Thursday, September 5th. The mining company reported $0.41 EPS for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The business had revenue of $6.49 million for the quarter.

Mesabi Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.56 dividend on an annualized basis and a yield of 6.07%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. Mesabi Trust’s dividend payout ratio is 115.56%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Mesabi Trust from a “buy” rating to a “hold” rating in a research report on Monday, September 9th.

About Mesabi Trust

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.