38,510 Shares in Mesabi Trust $MSB Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC purchased a new stake in Mesabi Trust (NYSE:MSB) during the 4th quarter, HoldingsChannel reports. The fund purchased 38,510 shares of the mining company’s stock, valued at approximately $1,483,000.

A number of other large investors have also recently bought and sold shares of MSB. Quattro Advisors LLC acquired a new position in Mesabi Trust during the fourth quarter worth $31,000. NewEdge Advisors LLC increased 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 during the 1st quarter worth about $44,000. Farther Finance Advisors LLC lifted its holdings in Mesabi Trust by 73.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,491 shares of the mining company’s stock valued at $57,000 after purchasing an additional 630 shares during the last quarter. Finally, Barclays PLC bought a new position in Mesabi Trust during the 4th quarter valued at about $58,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Mesabi Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Mesabi Trust Stock Performance

Shares of MSB stock opened at $25.39 on Wednesday. The stock’s fifty day moving average is $26.43 and its 200-day moving average is $31.43. The stock has a market capitalization of $333.16 million, a PE ratio of 29.53 and a beta of 0.29. Mesabi Trust has a 52 week low of $23.45 and a 52 week high of $42.38.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Friday, June 12th. The mining company reported $0.08 earnings per share for the quarter. Mesabi Trust had a return on equity of 54.83% and a net margin of 75.32%.The company had revenue of $2.25 million during the quarter.

Mesabi Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Thursday, April 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, April 30th. Mesabi Trust’s dividend payout ratio (DPR) is presently 111.63%.

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.