Mesabi Trust (NYSE:MSB) Stock Position Lessened by Beddow Capital Management Inc.

Beddow Capital Management Inc. lowered its stake in shares of Mesabi Trust (NYSE:MSB) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 431,356 shares of the mining company’s stock after selling 17,310 shares during the period. Mesabi Trust accounts for approximately 5.0% of Beddow Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Beddow Capital Management Inc. owned 3.29% of Mesabi Trust worth $12,125,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of Mesabi Trust by 47.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock worth $713,000 after purchasing an additional 8,133 shares during the period. Horizon Kinetics Asset Management LLC increased its holdings in shares of Mesabi Trust by 6.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company’s stock worth $79,917,000 after purchasing an additional 183,387 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Mesabi Trust by 7.2% in the fourth quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company’s stock worth $15,009,000 after purchasing an additional 36,029 shares during the period. OFI Invest Asset Management bought a new position in shares of Mesabi Trust in the fourth quarter worth $988,000. Finally, Atlas Wealth Partners LLC bought a new position in shares of Mesabi Trust in the fourth quarter worth $202,000.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Mesabi Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th.

Mesabi Trust Stock Performance

Mesabi Trust stock opened at $27.20 on Friday. The stock has a market cap of $356.92 million, a P/E ratio of 3.88 and a beta of 0.76. Mesabi Trust has a fifty-two week low of $15.93 and a fifty-two week high of $37.00. The firm’s fifty day moving average price is $27.32 and its 200-day moving average price is $25.79.

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were paid a $5.95 dividend. This represents a $23.80 dividend on an annualized basis and a yield of 87.49%. The ex-dividend date of this dividend was Thursday, January 30th. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s dividend payout ratio is currently 339.51%.

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.