Horizon Kinetics Asset Management LLC Raises Holdings in Mesabi Trust $MSB

Horizon Kinetics Asset Management LLC raised its position in shares of Mesabi Trust (NYSE:MSB) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,027,698 shares of the mining company’s stock after acquiring an additional 28,372 shares during the quarter. Mesabi Trust comprises 1.6% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Horizon Kinetics Asset Management LLC owned about 23.08% of Mesabi Trust worth $116,627,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC boosted its position in Mesabi Trust by 57.3% during the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock valued at $39,000 after acquiring an additional 587 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Mesabi Trust during the first quarter valued at $44,000. Colonial Trust Advisors bought a new stake in Mesabi Trust during the third quarter valued at $44,000. Farther Finance Advisors LLC boosted its position in Mesabi Trust by 73.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock valued at $57,000 after acquiring an additional 630 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Mesabi Trust during the third quarter valued at $212,000.

Analyst Ratings Changes

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

Mesabi Trust Trading Down 0.2%

Shares of MSB opened at $23.99 on Wednesday. The stock has a market capitalization of $314.75 million, a P/E ratio of 22.63 and a beta of 0.29. The firm’s fifty day simple moving average is $28.49 and its two-hundred day simple moving average is $32.25. Mesabi Trust has a 12 month low of $22.55 and a 12 month high of $42.38.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings data on Wednesday, April 22nd. The mining company reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $3.59 million for the quarter. Mesabi Trust had a net margin of 79.14% and a return on equity of 66.13%.

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Thursday, April 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, April 30th. Mesabi Trust’s dividend payout ratio is 90.57%.

Mesabi Trust 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.