StockNews.com cut shares of Mesabi Trust (NYSE:MSB – Free Report) from a buy rating to a hold rating in a report released on Monday.
Mesabi Trust Stock Down 2.3 %
Shares of MSB opened at $16.69 on Monday. The stock’s 50-day moving average price is $17.30 and its two-hundred day moving average price is $17.42. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $22.39.
Mesabi Trust (NYSE:MSB – Get Free Report) last posted its quarterly earnings data on Thursday, June 13th. The mining company reported $0.27 EPS for the quarter. The company had revenue of $6.25 million for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.
Mesabi Trust Increases Dividend
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC bought a new stake in Mesabi Trust in the first quarter worth approximately $124,000. Steward Partners Investment Advisory LLC increased its stake in shares of Mesabi Trust by 38.0% in 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 in the last quarter. NBC Securities Inc. lifted its position in shares of 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. Pecaut & CO. boosted its stake in Mesabi Trust by 29.2% during the first quarter. Pecaut & CO. now owns 17,700 shares of the mining company’s stock worth $312,000 after acquiring an additional 4,000 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Mesabi Trust in the second quarter worth $576,000.
About Mesabi Trust
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.
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