Horizon Kinetics Asset Management LLC Boosts Holdings in Mesabi Trust (NYSE:MSB)

Horizon Kinetics Asset Management LLC grew its holdings in shares of Mesabi Trust (NYSE:MSB) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,843,010 shares of the mining company’s stock after acquiring an additional 183,387 shares during the quarter. Mesabi Trust accounts for approximately 1.0% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 11th biggest holding. Horizon Kinetics Asset Management LLC owned approximately 21.67% of Mesabi Trust worth $79,917,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake 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 acquiring an additional 8,133 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Mesabi Trust by 7.2% in the fourth 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 during the last quarter. OFI Invest Asset Management bought a new position in shares of Mesabi Trust in the fourth quarter worth approximately $988,000. Atlas Wealth Partners LLC bought a new position in shares of Mesabi Trust in the fourth quarter worth approximately $202,000. Finally, Mad River Investors grew its holdings in shares of Mesabi Trust by 0.6% in the fourth quarter. Mad River Investors now owns 294,901 shares of the mining company’s stock worth $8,290,000 after purchasing an additional 1,832 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Mesabi Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th.

Mesabi Trust Trading Up 5.2 %

Shares of Mesabi Trust stock opened at $26.97 on Monday. The company’s fifty day simple moving average is $27.30 and its two-hundred day simple moving average is $25.55. The company has a market cap of $353.89 million, a P/E ratio of 3.85 and a beta of 0.76. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $37.00.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings data on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were given a dividend of $5.95 per share. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.39. This represents a $23.80 dividend on an annualized basis and a yield of 88.24%. The ex-dividend date was Thursday, January 30th. Mesabi Trust’s payout ratio is presently 339.51%.

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.