Mesabi Trust (NYSE:MSB) Posts Quarterly Earnings Results

Mesabi Trust (NYSE:MSB) announced its quarterly earnings data on Wednesday. The mining company reported $0.21 EPS for the quarter, FiscalAI reports. The business had revenue of $3.59 million for the quarter. Mesabi Trust had a return on equity of 65.54% and a net margin of 79.14%.

Mesabi Trust Stock Down 4.5%

Shares of Mesabi Trust stock opened at $27.35 on Friday. The firm has a market cap of $358.77 million, a price-to-earnings ratio of 25.80 and a beta of 0.50. The business has a 50-day moving average price of $31.30 and a 200-day moving average price of $33.72. Mesabi Trust has a twelve month low of $22.55 and a twelve month high of $42.38.

Mesabi Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. Mesabi Trust’s dividend payout ratio (DPR) is presently 79.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC grew its position in shares of Mesabi Trust by 0.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 3,027,698 shares of the mining company’s stock valued at $116,627,000 after purchasing an additional 28,372 shares in the last quarter. Mad River Investors boosted its position in shares of Mesabi Trust by 8.4% during the 1st quarter. Mad River Investors now owns 321,546 shares of the mining company’s stock valued at $10,129,000 after acquiring an additional 24,897 shares during the last quarter. CWA Asset Management Group LLC boosted its position in shares of Mesabi Trust by 41.8% during the 4th quarter. CWA Asset Management Group LLC now owns 228,244 shares of the mining company’s stock valued at $8,790,000 after acquiring an additional 67,326 shares during the last quarter. EagleClaw Capital Managment LLC boosted its position in shares of Mesabi Trust by 1.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 167,425 shares of the mining company’s stock valued at $4,901,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Mesabi Trust by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 64,866 shares of the mining company’s stock valued at $2,499,000 after acquiring an additional 5,189 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Mesabi Trust in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

About Mesabi Trust

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.