Moors & Cabot Inc. Buys 19,950 Shares of Mesabi Trust (NYSE:MSB)

Moors & Cabot Inc. raised its holdings in shares of Mesabi Trust (NYSE:MSB) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,908 shares of the mining company’s stock after acquiring an additional 19,950 shares during the quarter. Moors & Cabot Inc.’s holdings in Mesabi Trust were worth $3,305,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. HighTower Advisors LLC boosted its position in shares of Mesabi Trust by 3.0% during the first quarter. HighTower Advisors LLC now owns 20,280 shares of the mining company’s stock valued at $510,000 after buying an additional 600 shares during the period. UBS Group AG grew its holdings in shares of Mesabi Trust by 4.7% in the third quarter. UBS Group AG now owns 13,554 shares of the mining company’s stock valued at $291,000 after purchasing an additional 607 shares during the period. Commonwealth Equity Services LLC raised its stake in Mesabi Trust by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 15,743 shares of the mining company’s stock worth $338,000 after purchasing an additional 641 shares during the period. Raymond James & Associates lifted its holdings in Mesabi Trust by 5.0% in the first quarter. Raymond James & Associates now owns 14,050 shares of the mining company’s stock valued at $374,000 after acquiring an additional 675 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Mesabi Trust by 7.1% during the fourth quarter. Wells Fargo & Company MN now owns 13,900 shares of the mining company’s stock worth $250,000 after purchasing an additional 916 shares during the period.

Mesabi Trust Stock Up 0.2 %

Shares of NYSE:MSB traded up $0.04 during midday trading on Thursday, reaching $18.28. The company had a trading volume of 3,496 shares, compared to its average volume of 40,558. The stock’s fifty day moving average price is $20.20 and its 200-day moving average price is $19.72. Mesabi Trust has a one year low of $17.13 and a one year high of $29.00.

Mesabi Trust (NYSE:MSB) last released its earnings results on Wednesday, September 13th. The mining company reported $0.70 EPS for the quarter. The business had revenue of $9.89 million during the quarter.

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date is Friday, October 27th.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MSB shares. TheStreet upgraded Mesabi Trust from a “d+” rating to a “c” rating in a research note on Thursday, September 14th. StockNews.com assumed coverage on Mesabi Trust in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Mesabi Trust Company Profile

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.