Acadian Asset Management LLC Trims Position in Mesabi Trust (MSB)

Acadian Asset Management LLC decreased its holdings in Mesabi Trust (NYSE:MSB) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,139 shares of the mining company’s stock after selling 15,478 shares during the quarter. Acadian Asset Management LLC owned about 0.91% of Mesabi Trust worth $3,158,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Mesabi Trust by 91.5% in the 1st quarter. JPMorgan Chase & Co. now owns 55,855 shares of the mining company’s stock worth $1,438,000 after purchasing an additional 26,686 shares during the period. Millennium Management LLC bought a new stake in Mesabi Trust in the 1st quarter worth approximately $271,000. Beach Investment Counsel Inc. PA grew its position in Mesabi Trust by 33.3% in the 2nd quarter. Beach Investment Counsel Inc. PA now owns 14,178 shares of the mining company’s stock worth $348,000 after purchasing an additional 3,538 shares during the period. Wedbush Securities Inc. bought a new stake in Mesabi Trust in the 2nd quarter worth approximately $247,000. Finally, Renaissance Technologies LLC grew its position in Mesabi Trust by 164.6% in the 2nd quarter. Renaissance Technologies LLC now owns 34,400 shares of the mining company’s stock worth $845,000 after purchasing an additional 21,400 shares during the period. Hedge funds and other institutional investors own 18.77% of the company’s stock.

NYSE:MSB opened at $26.68 on Friday. Mesabi Trust has a 12 month low of $20.60 and a 12 month high of $32.67.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Tuesday, October 30th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 14.09%. The ex-dividend date is Monday, October 29th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.22.

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Mesabi Trust Company Profile

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.

See Also: Dollar Cost Averaging

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Institutional Ownership by Quarter for Mesabi Trust (NYSE:MSB)

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