Beddow Capital Management Inc. Sells 13,649 Shares of Mesabi Trust (NYSE:MSB)

Beddow Capital Management Inc. decreased its stake in Mesabi Trust (NYSE:MSB) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,666 shares of the mining company’s stock after selling 13,649 shares during the quarter. Mesabi Trust accounts for about 4.2% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 6th largest holding. Beddow Capital Management Inc. owned 3.42% of Mesabi Trust worth $10,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MSB. OFI Invest Asset Management acquired a new stake in shares of Mesabi Trust during the second quarter worth approximately $576,000. Mad River Investors grew its stake in shares of Mesabi Trust by 2.0% in the 2nd quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock valued at $5,025,000 after buying an additional 5,809 shares in the last quarter. Pecaut & CO. increased its holdings in Mesabi Trust by 22.6% in the second quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after buying an additional 4,000 shares during the last quarter. Moors & Cabot Inc. raised its position in Mesabi Trust by 28.3% during the second quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock valued at $8,003,000 after acquiring an additional 102,520 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in Mesabi Trust in the third quarter valued at approximately $159,000.

Mesabi Trust Trading Up 0.8 %

NYSE MSB opened at $25.71 on Tuesday. Mesabi Trust has a twelve month low of $15.93 and a twelve month high of $26.98. The firm has a 50-day simple moving average of $23.90 and a 200 day simple moving average of $19.62.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings data on Thursday, September 5th. The mining company reported $0.41 earnings per share for the quarter. The company had revenue of $6.49 million for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.07%. Mesabi Trust’s dividend payout ratio (DPR) is presently 115.56%.

Analyst Ratings Changes

Separately, StockNews.com lowered Mesabi Trust from a “buy” rating to a “hold” rating in a report on Monday, September 9th.

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.