Mesabi Trust (NYSE:MSB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Mesabi Trust (NYSE:MSB) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,611 shares of the mining company’s stock after selling 6,355 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of Mesabi Trust worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in shares of Mesabi Trust during the 3rd quarter worth $159,000. Apollon Wealth Management LLC acquired a new stake in Mesabi Trust during the third quarter worth about $344,000. EagleClaw Capital Managment LLC raised its holdings in shares of Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after purchasing an additional 31,900 shares during the period. Mad River Investors lifted its position in Mesabi Trust by 0.5% during the third quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock valued at $6,638,000 after buying an additional 1,423 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in Mesabi Trust by 7.2% during the third quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock worth $11,278,000 after buying an additional 33,411 shares during the period.

Mesabi Trust Stock Performance

Shares of MSB stock opened at $31.39 on Monday. Mesabi Trust has a one year low of $15.93 and a one year high of $32.04. The stock has a market capitalization of $411.77 million, a price-to-earnings ratio of 4.48 and a beta of 0.85. The company’s 50-day simple moving average is $27.66 and its 200-day simple moving average is $23.20.

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

Mesabi Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be issued a dividend of $5.95 per share. This represents a $23.80 dividend on an annualized basis and a dividend yield of 75.83%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 30th. Mesabi Trust’s dividend payout ratio (DPR) is 22.25%.

Analyst Upgrades and Downgrades

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

About Mesabi Trust

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.