Golden State Wealth Management LLC Grows Stock Holdings in Mesabi Trust (NYSE:MSB)

Golden State Wealth Management LLC grew its holdings in shares of Mesabi Trust (NYSE:MSB) by 100.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,000 shares of the mining company’s stock after acquiring an additional 500 shares during the period. Golden State Wealth Management LLC’s holdings in Mesabi Trust were worth $27,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Marshall Wace LLP raised its holdings in Mesabi Trust by 11.2% in the 4th quarter. Marshall Wace LLP now owns 15,071 shares of the mining company’s stock worth $424,000 after acquiring an additional 1,522 shares during the last quarter. Mad River Investors raised its holdings in Mesabi Trust by 0.5% in the 1st quarter. Mad River Investors now owns 296,457 shares of the mining company’s stock worth $8,064,000 after acquiring an additional 1,556 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Mesabi Trust in the 4th quarter worth approximately $205,000. Heron Bay Capital Management purchased a new position in Mesabi Trust in the 4th quarter worth approximately $204,000. Finally, Bank of Montreal Can purchased a new position in Mesabi Trust in the 4th quarter worth approximately $208,000.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Mesabi Trust from a “buy” rating to a “hold” rating in a report on Saturday, June 14th.

Mesabi Trust Trading Up 2.7%

Shares of MSB opened at $24.89 on Friday. The firm has a market cap of $326.61 million, a PE ratio of 3.50 and a beta of 0.54. The firm has a fifty day simple moving average of $25.67 and a two-hundred day simple moving average of $26.72. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $37.00.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Thursday, June 12th. The mining company reported $0.28 earnings per share for the quarter. The business had revenue of $4.74 million during the quarter. Mesabi Trust had a net margin of 96.23% and a return on equity of 233.00%.

Mesabi Trust Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, May 20th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a yield of 8.05%. Mesabi Trust’s dividend payout ratio is presently 31.46%.

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.