Mesabi Trust (NYSE:MSB) Short Interest Update

Mesabi Trust (NYSE:MSB) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 446,900 shares, an increase of 21.6% from the January 15th total of 367,500 shares. Based on an average daily volume of 57,700 shares, the days-to-cover ratio is currently 7.7 days. Currently, 3.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th.

Mesabi Trust Price Performance

Shares of NYSE:MSB opened at $25.32 on Friday. The stock has a market cap of $332.20 million, a P/E ratio of 3.61 and a beta of 0.84. Mesabi Trust has a 1-year low of $15.93 and a 1-year high of $37.00. The firm has a fifty day moving average price of $27.64 and a 200 day moving average price of $24.07.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be given a $5.95 dividend. This represents a $23.80 dividend on an annualized basis and a yield of 94.00%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 30th. Mesabi Trust’s dividend payout ratio (DPR) is 339.52%.

Hedge Funds Weigh In On Mesabi Trust

Several institutional investors have recently bought and sold shares of MSB. Horizon Kinetics Asset Management LLC boosted its holdings in shares of Mesabi Trust by 6.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company’s stock valued at $79,917,000 after acquiring an additional 183,387 shares in the last quarter. Lido Advisors LLC acquired a new position in Mesabi Trust during the 4th quarter worth approximately $2,243,000. OFI Invest Asset Management acquired a new position in Mesabi Trust during the 4th quarter worth approximately $988,000. Moors & Cabot Inc. boosted its stake in shares of Mesabi Trust by 7.2% in the fourth quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company’s stock valued at $15,009,000 after buying an additional 36,029 shares in the last quarter. Finally, EagleClaw Capital Managment LLC raised its position in Mesabi Trust by 27.9% in the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after acquiring an additional 31,900 shares in the last quarter.

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.