Separately, StockNews.com lowered Mesabi Trust from a buy rating to a hold rating in a research note on Wednesday, September 14th.
Mesabi Trust Trading Down 3.9 %
NYSE:MSB opened at $22.10 on Thursday. The stock has a 50 day simple moving average of $26.66 and a 200 day simple moving average of $26.24. Mesabi Trust has a 1-year low of $20.02 and a 1-year high of $37.36. The stock has a market cap of $289.95 million, a P/E ratio of 6.86 and a beta of 0.96.
Mesabi Trust Cuts Dividend
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prospera Financial Services Inc bought a new stake in shares of Mesabi Trust during the first quarter worth about $25,000. Selective Wealth Management Inc. grew its position in shares of Mesabi Trust by 333.3% during the 2nd quarter. Selective Wealth Management Inc. now owns 1,300 shares of the mining company’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. CoreCap Advisors LLC bought a new position in Mesabi Trust in the 2nd quarter worth approximately $41,000. BNP Paribas Arbitrage SA bought a new position in Mesabi Trust in the 2nd quarter worth approximately $122,000. Finally, Advisor Group Holdings Inc. boosted its holdings in Mesabi Trust by 241.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 19,984 shares of the mining company’s stock valued at $153,000 after purchasing an additional 14,137 shares during the period. 34.78% of the stock is owned by institutional investors and hedge funds.
About Mesabi Trust
Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was incorporated in 1961 and is based in New York, New York.
- Get a free copy of the StockNews.com research report on Mesabi Trust (MSB)
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