Mesabi Trust (NYSE:MSB) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Mesabi Trust (NYSE:MSB) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Mesabi Trust Price Performance

Shares of NYSE MSB opened at $24.31 on Friday. The business’s 50-day moving average price is $26.48 and its two-hundred day moving average price is $27.01. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The company has a market capitalization of $318.96 million, a P/E ratio of 3.47 and a beta of 0.56.

Mesabi Trust (NYSE:MSB) last issued its earnings results on Thursday, June 12th. The mining company reported $0.28 EPS for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%. The firm had revenue of $4.74 million for the quarter.

Mesabi Trust Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, May 20th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.56 per share. The ex-dividend date was Wednesday, April 30th. This represents a dividend yield of 8.05%. Mesabi Trust’s dividend payout ratio (DPR) is presently 31.46%.

Institutional Trading of Mesabi Trust

Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Mesabi Trust during the 1st quarter worth about $44,000. Royal Bank of Canada boosted its stake in shares of Mesabi Trust by 14.1% during the 1st quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock worth $725,000 after acquiring an additional 3,303 shares in the last quarter. MAI Capital Management boosted its stake in shares of Mesabi Trust by 14.6% during the 1st quarter. MAI Capital Management now owns 4,393 shares of the mining company’s stock worth $119,000 after acquiring an additional 561 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Mesabi Trust during the 1st quarter worth about $357,000. Finally, HighTower Advisors LLC boosted its stake in shares of Mesabi Trust by 19.8% during the 1st quarter. HighTower Advisors LLC now owns 24,421 shares of the mining company’s stock worth $664,000 after acquiring an additional 4,034 shares in the last quarter.

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.