Raymond James Financial Inc. Acquires New Holdings in Mesabi Trust (NYSE:MSB)

Raymond James Financial Inc. bought a new position in shares of Mesabi Trust (NYSE:MSB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 19,927 shares of the mining company’s stock, valued at approximately $560,000. Raymond James Financial Inc. owned 0.15% of Mesabi Trust as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MSB. Horizon Kinetics Asset Management LLC raised its holdings in shares of Mesabi Trust by 6.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company’s stock worth $79,917,000 after acquiring an additional 183,387 shares during the period. Moors & Cabot Inc. increased its holdings in Mesabi Trust by 7.2% during the 4th quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company’s stock worth $15,009,000 after purchasing an additional 36,029 shares in the last quarter. Mad River Investors raised its stake in shares of Mesabi Trust by 0.6% in the 4th quarter. Mad River Investors now owns 294,901 shares of the mining company’s stock valued at $8,290,000 after purchasing an additional 1,832 shares during the period. OFI Invest Asset Management bought a new stake in shares of Mesabi Trust in the fourth quarter valued at about $988,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Mesabi Trust by 47.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock worth $713,000 after buying an additional 8,133 shares during the period.

Analyst Ratings Changes

Separately, StockNews.com cut Mesabi Trust from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th.

Mesabi Trust Stock Down 1.0 %

Shares of MSB stock opened at $27.65 on Friday. Mesabi Trust has a 12 month low of $15.93 and a 12 month high of $37.00. The company’s fifty day simple moving average is $26.76 and its 200-day simple moving average is $26.98. The firm has a market cap of $362.70 million, a PE ratio of 3.94 and a beta of 0.70.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $0.46 EPS for the quarter. The firm had revenue of $6.85 million for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.56 per share. This represents a dividend yield of 8.05%. The ex-dividend date is Wednesday, April 30th. Mesabi Trust’s dividend payout ratio (DPR) is 31.50%.

Mesabi Trust 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.