HighTower Advisors LLC Boosts Stock Holdings in Mesabi Trust $MSB

HighTower Advisors LLC boosted its position in shares of Mesabi Trust (NYSE:MSB) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,421 shares of the mining company’s stock after acquiring an additional 4,034 shares during the period. HighTower Advisors LLC owned 0.19% of Mesabi Trust worth $664,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in Mesabi Trust by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Mesabi Trust in the fourth quarter worth $205,000. Atlas Wealth Partners LLC increased its position in Mesabi Trust by 11.5% during the 1st quarter. Atlas Wealth Partners LLC now owns 8,057 shares of the mining company’s stock valued at $217,000 after purchasing an additional 830 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Mesabi Trust during the 4th quarter valued at $228,000. Finally, Vivaldi Capital Management LP purchased a new position in Mesabi Trust during the 4th quarter valued at $229,000.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Mesabi Trust from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th.

Mesabi Trust Price Performance

NYSE:MSB opened at $30.99 on Friday. The firm’s 50-day moving average price is $27.82 and its 200-day moving average price is $26.95. The company has a market capitalization of $406.59 million, a PE ratio of 4.35 and a beta of 0.57. Mesabi Trust has a 1-year low of $16.55 and a 1-year high of $37.00.

Mesabi Trust (NYSE:MSB) last released its earnings results on Thursday, June 12th. The mining company reported $0.28 earnings per share for the quarter. The firm had revenue of $4.74 million for the quarter. Mesabi Trust had a net margin of 96.23% and a return on equity of 233.00%.

Mesabi Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, July 30th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Mesabi Trust’s dividend payout ratio is currently 6.74%.

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.