Mesabi Trust (NYSE:MSB) Hits New 1-Year High – Should You Buy?

Mesabi Trust (NYSE:MSB)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $39.38 and last traded at $39.7190, with a volume of 10494 shares changing hands. The stock had previously closed at $38.24.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Mesabi Trust in a report on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Mesabi Trust Stock Up 1.5%

The firm’s fifty day moving average is $34.50 and its two-hundred day moving average is $31.02. The firm has a market cap of $509.19 million, a P/E ratio of 29.63 and a beta of 0.57.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Friday, December 12th. The mining company reported $0.21 EPS for the quarter. Mesabi Trust had a net margin of 82.80% and a return on equity of 79.30%. The firm had revenue of $3.39 million during the quarter.

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 given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.5%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.12. Mesabi Trust’s dividend payout ratio is currently 103.82%.

Institutional Investors Weigh In On Mesabi Trust

Several hedge funds have recently made changes to their positions in the company. Quent Capital LLC bought a new position in Mesabi Trust in the third quarter worth $28,000. Colonial Trust Advisors purchased a new stake in shares of Mesabi Trust in the 3rd quarter worth about $44,000. NewEdge Advisors LLC increased its stake in shares of Mesabi Trust by 57.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after acquiring an additional 587 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Mesabi Trust during the 1st quarter valued at about $44,000. Finally, MAI Capital Management lifted its position in Mesabi Trust by 14.6% during the 1st quarter. MAI Capital Management now owns 4,393 shares of the mining company’s stock valued at $119,000 after acquiring an additional 561 shares during the period.

About Mesabi Trust

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.