Advisory Services Network LLC Purchases 141,159 Shares of Mesabi Trust $MSB

Advisory Services Network LLC grew its position in Mesabi Trust (NYSE:MSB) by 351.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 181,347 shares of the mining company’s stock after buying an additional 141,159 shares during the period. Advisory Services Network LLC owned 1.38% of Mesabi Trust worth $4,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC boosted its stake in Mesabi Trust by 2.0% in the second quarter. Horizon Kinetics Asset Management LLC now owns 2,960,590 shares of the mining company’s stock valued at $70,936,000 after acquiring an additional 58,895 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Mesabi Trust during the 2nd quarter valued at $818,000. State of Wyoming purchased a new stake in shares of Mesabi Trust during the 2nd quarter valued at $407,000. Ritholtz Wealth Management acquired a new stake in shares of Mesabi Trust in the 2nd quarter worth $329,000. Finally, Russell Investments Group Ltd. purchased a new position in Mesabi Trust during the 1st quarter worth $357,000.

Mesabi Trust Trading Down 0.5%

Mesabi Trust stock opened at $34.47 on Tuesday. The firm has a market cap of $452.18 million, a PE ratio of 26.31 and a beta of 0.63. Mesabi Trust has a 12 month low of $22.55 and a 12 month high of $37.00. The stock’s 50 day simple moving average is $33.50 and its two-hundred day simple moving average is $30.17.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $3.39 million during the quarter. Mesabi Trust had a net margin of 82.80% and a return on equity of 78.56%.

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, October 30th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, October 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.12. Mesabi Trust’s dividend payout ratio is currently 103.82%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Mesabi Trust in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

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.