Raymond James Financial Inc. Invests $560,000 in Mesabi Trust (NYSE:MSB)

Raymond James Financial Inc. bought a new position in shares of Mesabi Trust (NYSE:MSB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,927 shares of the mining company’s stock, valued at approximately $560,000.

Other large investors have also recently modified their holdings of the company. Atlas Wealth Partners LLC acquired a new stake in shares of Mesabi Trust in the fourth quarter valued at about $202,000. Kingsview Wealth Management LLC bought a new stake in Mesabi Trust in the fourth quarter valued at approximately $233,000. Steward Partners Investment Advisory LLC increased its position in Mesabi Trust by 47.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock valued at $713,000 after purchasing an additional 8,133 shares during the period. Finally, Mad River Investors raised its holdings in Mesabi Trust by 0.6% during the 4th 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.

Analyst Ratings Changes

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

Mesabi Trust Price Performance

MSB stock opened at $24.77 on Tuesday. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $37.00. The company’s 50-day moving average is $26.74 and its 200-day moving average is $26.47. The stock has a market capitalization of $324.92 million, a PE ratio of 3.53 and a beta of 0.66.

Mesabi Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were given a dividend of $5.95 per share. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 30th. This represents a $23.80 annualized dividend and a dividend yield of 96.10%. 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.