Mesabi Trust (NYSE:MSB) is Valueworks LLC’s 3rd Largest Position

Valueworks LLC lessened its stake in shares of Mesabi Trust (NYSE:MSB) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 792,925 shares of the mining company’s stock after selling 12,037 shares during the quarter. Mesabi Trust makes up approximately 7.6% of Valueworks LLC’s holdings, making the stock its 3rd largest holding. Valueworks LLC owned 6.04% of Mesabi Trust worth $19,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its holdings in Mesabi Trust by 241.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 19,984 shares of the mining company’s stock valued at $153,000 after buying an additional 14,137 shares during the period. Raymond James & Associates grew its holdings in Mesabi Trust by 5.0% in the 1st quarter. Raymond James & Associates now owns 14,050 shares of the mining company’s stock valued at $374,000 after buying an additional 675 shares during the period. HighTower Advisors LLC grew its holdings in Mesabi Trust by 22.0% in the 1st quarter. HighTower Advisors LLC now owns 18,606 shares of the mining company’s stock valued at $496,000 after buying an additional 3,358 shares during the period. UBS Group AG grew its holdings in Mesabi Trust by 128.9% in the 1st quarter. UBS Group AG now owns 12,686 shares of the mining company’s stock valued at $338,000 after buying an additional 7,145 shares during the period. Finally, Invesco Ltd. grew its holdings in Mesabi Trust by 35.7% in the 1st quarter. Invesco Ltd. now owns 10,315 shares of the mining company’s stock valued at $275,000 after buying an additional 2,711 shares during the period.

Mesabi Trust Trading Up 0.3 %

Shares of NYSE:MSB opened at $19.71 on Friday. Mesabi Trust has a 1 year low of $16.56 and a 1 year high of $29.00. The stock has a 50-day simple moving average of $19.02 and a 200-day simple moving average of $21.44.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings results on Tuesday, June 13th. The mining company reported $0.08 earnings per share for the quarter. The company had revenue of $1.85 million during the quarter.

Wall Street Analyst Weigh In

MSB has been the subject of several research reports. TheStreet cut shares of Mesabi Trust from a “c” rating to a “d+” rating in a research note on Thursday, May 18th. StockNews.com initiated coverage on shares of Mesabi Trust in a research note on Thursday, August 17th. They set a “sell” rating for the company.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was incorporated in 1961 and is based in New York, New York.