Raymond James Financial Inc. Takes Position in Mesabi Trust (NYSE:MSB)

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

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Wealth Partners LLC acquired a new position in Mesabi Trust during the fourth quarter worth approximately $202,000. Heron Bay Capital Management bought a new position in shares of Mesabi Trust during the 4th quarter worth approximately $204,000. Bank of Montreal Can acquired a new position in shares of Mesabi Trust during the 4th quarter worth approximately $208,000. Kingsview Wealth Management LLC bought a new stake in Mesabi Trust in the 4th quarter valued at $233,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings 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 last quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Mesabi Trust from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th.

Mesabi Trust Stock Down 1.0 %

Mesabi Trust stock opened at $27.65 on Friday. The company’s 50-day moving average price is $26.76 and its two-hundred day moving average price is $26.98. The stock has a market cap of $362.70 million, a P/E ratio of 3.94 and a beta of 0.70. Mesabi Trust has a twelve month low of $15.93 and a twelve month high of $37.00.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Thursday, April 24th. The mining company reported $0.46 EPS for the quarter. The company had revenue of $6.85 million for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.56 per share. This represents a yield of 8.05%. The ex-dividend date of this dividend is Wednesday, April 30th. Mesabi Trust’s payout ratio is 31.50%.

Mesabi Trust 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.