Mesabi Trust (NYSE:MSB) Trading 5.1% Higher – Time to Buy?

Shares of Mesabi Trust (NYSE:MSB) traded up 5.1% during trading on Tuesday . The company traded as high as $38.25 and last traded at $38.37. 49,609 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 50,833 shares. The stock had previously closed at $36.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Mesabi Trust in a research note on Monday, December 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Mesabi Trust Stock Performance

The firm has a market capitalization of $503.55 million, a P/E ratio of 29.30 and a beta of 0.63. The firm’s 50-day moving average is $34.29 and its 200 day moving average is $30.82.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $3.39 million for the quarter. Mesabi Trust had a return on equity of 79.30% and a net margin of 82.80%.

Mesabi Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, October 30th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.5%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.12. Mesabi Trust’s dividend payout ratio (DPR) is 103.82%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC boosted its position in Mesabi Trust by 2.0% during the second quarter. Horizon Kinetics Asset Management LLC now owns 2,960,590 shares of the mining company’s stock valued at $70,936,000 after purchasing an additional 58,895 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Mesabi Trust by 351.2% during the 2nd quarter. Advisory Services Network LLC now owns 181,347 shares of the mining company’s stock worth $4,345,000 after purchasing an additional 141,159 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Mesabi Trust during the 2nd quarter worth approximately $818,000. Ritholtz Wealth Management acquired a new stake in shares of Mesabi Trust in the 2nd quarter valued at approximately $329,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Mesabi Trust in the first quarter valued at $357,000.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.