Mesabi Trust (NYSE:MSB) Sees Significant Increase in Short Interest

Mesabi Trust (NYSE:MSB) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 446,900 shares, a growth of 21.6% from the January 15th total of 367,500 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 57,700 shares, the short-interest ratio is currently 7.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlas Wealth Partners LLC acquired a new stake in shares of Mesabi Trust in the 4th quarter valued at $202,000. Heron Bay Capital Management acquired a new stake in shares of Mesabi Trust in the fourth quarter worth about $204,000. Ameriprise Financial Inc. bought a new stake in shares of Mesabi Trust during the 4th quarter worth about $205,000. Bank of Montreal Can acquired a new position in shares of Mesabi Trust during the 4th quarter valued at about $208,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Mesabi Trust in the 4th quarter valued at approximately $233,000.

Mesabi Trust Stock Performance

Shares of MSB stock traded up $0.18 during midday trading on Monday, reaching $25.32. 27,840 shares of the company were exchanged, compared to its average volume of 121,885. The company’s 50 day moving average price is $27.64 and its two-hundred day moving average price is $24.17. The company has a market cap of $332.20 million, a P/E ratio of 3.61 and a beta of 0.84. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $37.00.

Mesabi Trust (NYSE:MSB) last released its earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th will be given a $5.95 dividend. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $23.80 dividend on an annualized basis and a yield of 94.00%. Mesabi Trust’s dividend payout ratio is presently 339.51%.

Analyst Upgrades and Downgrades

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

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.