Horizon Kinetics Asset Management LLC Grows Stake in Mesabi Trust $MSB

Horizon Kinetics Asset Management LLC lifted its stake in shares of Mesabi Trust (NYSE:MSB) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,027,698 shares of the mining company’s stock after purchasing an additional 28,372 shares during the quarter. Mesabi Trust comprises 1.6% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Horizon Kinetics Asset Management LLC owned about 0.23% of Mesabi Trust worth $116,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of Mesabi Trust by 73.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock worth $57,000 after purchasing an additional 630 shares in the last quarter. Colonial Trust Advisors bought a new position in shares of Mesabi Trust during the 3rd quarter worth about $44,000. NewEdge Advisors LLC boosted its position in shares of Mesabi Trust by 57.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after purchasing an additional 587 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Mesabi Trust in the 1st quarter worth about $44,000. Finally, SFE Investment Counsel acquired a new stake in shares of Mesabi Trust in the 4th quarter worth about $213,000.

Mesabi Trust Price Performance

MSB opened at $23.99 on Wednesday. Mesabi Trust has a fifty-two week low of $22.55 and a fifty-two week high of $42.38. The firm has a market capitalization of $314.75 million, a PE ratio of 22.63 and a beta of 0.29. The company’s 50-day moving average is $28.49 and its 200 day moving average is $32.25.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Wednesday, April 22nd. The mining company reported $0.21 earnings per share for the quarter. Mesabi Trust had a net margin of 79.14% and a return on equity of 66.13%. The company had revenue of $3.59 million for the quarter.

Mesabi Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Thursday, April 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, April 30th. Mesabi Trust’s dividend payout ratio is currently 90.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Mesabi Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Mesabi Trust has an average rating of “Hold”.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.