Kingsview Wealth Management LLC Invests $233,000 in Mesabi Trust (NYSE:MSB)

Kingsview Wealth Management LLC purchased a new position in Mesabi Trust (NYSE:MSB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,292 shares of the mining company’s stock, valued at approximately $233,000. Kingsview Wealth Management LLC owned approximately 0.06% of Mesabi Trust at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mad River Investors increased its position in shares of Mesabi Trust by 0.5% in the third quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock worth $6,638,000 after acquiring an additional 1,423 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Mesabi Trust by 7.2% during the third quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock valued at $11,278,000 after buying an additional 33,411 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Mesabi Trust by 1.4% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock valued at $60,240,000 after buying an additional 37,417 shares in the last quarter. EagleClaw Capital Managment LLC lifted its stake in Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after acquiring an additional 31,900 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Mesabi Trust during the 3rd quarter worth about $344,000.

Mesabi Trust Stock Up 0.7 %

MSB stock opened at $25.32 on Friday. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $37.00. The company has a market cap of $332.20 million, a price-to-earnings ratio of 3.61 and a beta of 0.84. The company has a 50 day moving average of $27.64 and a two-hundred day moving average of $24.07.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings data on Friday, December 13th. The mining company reported $5.97 earnings per share 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be paid a $5.95 dividend. This represents a $23.80 annualized dividend and a dividend yield of 94.00%. The ex-dividend date is Thursday, January 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s payout ratio is presently 339.52%.

Wall Street Analyst Weigh In

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

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.