Heron Bay Capital Management Takes Position in Mesabi Trust (NYSE:MSB)

Heron Bay Capital Management acquired a new stake in shares of Mesabi Trust (NYSE:MSB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,315 shares of the mining company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Wealth Partners LLC acquired a new position in shares of Mesabi Trust during the 4th quarter valued at about $202,000. Kingsview Wealth Management LLC acquired a new stake in Mesabi Trust during the 4th quarter worth approximately $233,000. Raymond James Financial Inc. acquired a new stake in Mesabi Trust during the 4th quarter worth approximately $560,000. Steward Partners Investment Advisory LLC increased its position in Mesabi Trust by 47.2% during the 4th 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 in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Mesabi Trust during the 4th quarter worth approximately $988,000.

Analyst Ratings Changes

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

Mesabi Trust Stock Performance

MSB opened at $27.20 on Friday. The company has a market cap of $356.92 million, a PE ratio of 3.88 and a beta of 0.76. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $37.00. The firm has a 50 day moving average price of $27.32 and a 200 day moving average price of $25.85.

Mesabi Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were issued a $5.95 dividend. This represents a $23.80 dividend on an annualized basis and a yield of 87.49%. The ex-dividend date 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%.

Mesabi Trust Company Profile

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.