Mesabi Trust (NYSE:MSB) Posts Earnings Results

Mesabi Trust (NYSE:MSB) posted its quarterly earnings data on Friday. The mining company reported $999.00 EPS for the quarter, reports. Mesabi Trust had a net margin of 79.14% and a return on equity of 66.13%.

Mesabi Trust Stock Performance

Shares of NYSE:MSB opened at $25.96 on Friday. The stock has a market capitalization of $340.53 million, a price-to-earnings ratio of 24.49 and a beta of 0.29. Mesabi Trust has a 1-year low of $22.55 and a 1-year high of $42.38. The company has a 50 day moving average price of $28.07 and a 200 day moving average price of $32.10.

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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, April 30th. Mesabi Trust’s dividend payout ratio (DPR) is presently 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 research note on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of Mesabi Trust

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Mesabi Trust by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 64,866 shares of the mining company’s stock worth $2,499,000 after buying an additional 5,189 shares in the last quarter. Royal Bank of Canada boosted its holdings in Mesabi Trust by 72.1% during the fourth quarter. Royal Bank of Canada now owns 42,528 shares of the mining company’s stock worth $1,638,000 after buying an additional 17,820 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Mesabi Trust during the fourth quarter worth approximately $1,483,000. Commonwealth Equity Services LLC boosted its holdings in Mesabi Trust by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,841 shares of the mining company’s stock worth $1,188,000 after buying an additional 432 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Mesabi Trust by 99.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 20,923 shares of the mining company’s stock worth $806,000 after buying an additional 10,407 shares in the last quarter.

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.