Horizon Kinetics Asset Management LLC Purchases 37,417 Shares of Mesabi Trust (NYSE:MSB)

Horizon Kinetics Asset Management LLC increased its position in Mesabi Trust (NYSE:MSB) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,659,623 shares of the mining company’s stock after purchasing an additional 37,417 shares during the period. Mesabi Trust accounts for 0.9% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Horizon Kinetics Asset Management LLC’s holdings in Mesabi Trust were worth $60,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Mesabi Trust during the 2nd quarter worth approximately $576,000. Moors & Cabot Inc. increased its position in Mesabi Trust by 28.3% in the second quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock worth $8,003,000 after purchasing an additional 102,520 shares during the last quarter. Beddow Capital Management Inc. raised its stake in Mesabi Trust by 0.7% during the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock valued at $7,966,000 after purchasing an additional 3,028 shares in the last quarter. Mad River Investors lifted its position in Mesabi Trust by 2.0% during the second quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock valued at $5,025,000 after purchasing an additional 5,809 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Mesabi Trust in the 3rd quarter worth $159,000.

Mesabi Trust Stock Performance

Mesabi Trust stock opened at $26.60 on Monday. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $26.99. The firm has a 50-day moving average price of $24.40 and a 200-day moving average price of $19.88.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The business had revenue of $6.49 million during the quarter.

Mesabi Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 5.86%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 30th. Mesabi Trust’s dividend payout ratio (DPR) is 115.56%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Mesabi Trust from a “buy” rating to a “hold” rating in a research report on Monday, September 9th.

Mesabi Trust 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.