CWA Asset Management Group LLC Makes New $4.65 Million Investment in Mesabi Trust $MSB

CWA Asset Management Group LLC acquired a new position in Mesabi Trust (NYSE:MSB) in the third quarter, HoldingsChannel reports. The firm acquired 160,918 shares of the mining company’s stock, valued at approximately $4,653,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MAI Capital Management raised its position in Mesabi Trust by 14.6% in the 1st quarter. MAI Capital Management now owns 4,393 shares of the mining company’s stock worth $119,000 after purchasing an additional 561 shares during the period. Apollon Wealth Management LLC boosted its position in Mesabi Trust by 5.1% during the third quarter. Apollon Wealth Management LLC now owns 11,753 shares of the mining company’s stock valued at $344,000 after buying an additional 574 shares during the period. NewEdge Advisors LLC grew its stake in shares of Mesabi Trust by 57.3% during the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock valued at $39,000 after buying an additional 587 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Mesabi Trust in the first quarter worth about $44,000. Finally, Royal Bank of Canada increased its holdings in shares of Mesabi Trust by 14.1% in the first quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock worth $725,000 after buying an additional 3,303 shares during the period.

Mesabi Trust Stock Up 3.4%

Shares of Mesabi Trust stock opened at $39.84 on Monday. The firm has a market cap of $522.70 million, a PE ratio of 30.41 and a beta of 0.57. Mesabi Trust has a 12-month low of $22.55 and a 12-month high of $41.91. The company’s fifty day simple moving average is $34.59 and its two-hundred day simple moving average is $31.23.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings data on Friday, December 12th. The mining company reported $0.21 EPS for the quarter. The firm had revenue of $3.39 million during the quarter. Mesabi Trust had a net margin of 82.80% and a return on equity of 79.30%.

Mesabi Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, October 30th were issued a $0.34 dividend. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, October 30th. This represents a $1.36 annualized dividend and a yield of 3.4%. Mesabi Trust’s dividend payout ratio (DPR) is 103.82%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Mesabi Trust in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Mesabi Trust 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.