Wealth Enhancement Advisory Services LLC Invests $228,000 in Mesabi Trust (NYSE:MSB)

Wealth Enhancement Advisory Services LLC acquired a new position in Mesabi Trust (NYSE:MSB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,095 shares of the mining company’s stock, valued at approximately $228,000. Wealth Enhancement Advisory Services LLC owned about 0.06% of Mesabi Trust at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MSB. Horizon Kinetics Asset Management LLC raised its stake in Mesabi Trust by 6.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company’s stock valued at $79,917,000 after purchasing an additional 183,387 shares during the last quarter. Moors & Cabot Inc. raised its stake in Mesabi Trust by 7.2% during the 4th quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company’s stock valued at $15,009,000 after purchasing an additional 36,029 shares during the last quarter. Bank of America Corp DE raised its stake in Mesabi Trust by 613.0% during the 4th quarter. Bank of America Corp DE now owns 247,925 shares of the mining company’s stock valued at $6,969,000 after purchasing an additional 213,155 shares during the last quarter. Lido Advisors LLC acquired a new position in Mesabi Trust during the 4th quarter valued at $2,243,000. Finally, OFI Invest Asset Management acquired a new position in Mesabi Trust during the 4th quarter valued at $988,000.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Mesabi Trust from a “buy” rating to a “hold” rating in a research note on Saturday.

Mesabi Trust Price Performance

NYSE:MSB opened at $24.31 on Tuesday. The stock has a market cap of $318.96 million, a P/E ratio of 3.47 and a beta of 0.56. Mesabi Trust has a one year low of $15.93 and a one year high of $37.00. The company has a fifty day moving average price of $26.48 and a 200 day moving average price of $27.01.

Mesabi Trust (NYSE:MSB) last released its earnings results on Thursday, June 12th. The mining company reported $0.28 EPS for the quarter. The firm had revenue of $4.74 million during the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 20th. Shareholders of record on Thursday, May 1st were issued a $0.56 dividend. This represents a yield of 8.05%. The ex-dividend date of this dividend was Wednesday, April 30th. Mesabi Trust’s dividend payout ratio (DPR) is presently 31.46%.

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.