Horizon Kinetics Asset Management LLC Grows Holdings in Mesabi Trust (NYSE:MSB)

Horizon Kinetics Asset Management LLC lifted its holdings in Mesabi Trust (NYSE:MSB) by 6.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,843,010 shares of the mining company’s stock after acquiring an additional 183,387 shares during the quarter. Mesabi Trust makes up approximately 1.0% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Horizon Kinetics Asset Management LLC owned approximately 0.22% of Mesabi Trust worth $79,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mad River Investors boosted its stake in Mesabi Trust by 0.6% in the 4th quarter. Mad River Investors now owns 294,901 shares of the mining company’s stock worth $8,290,000 after purchasing an additional 1,832 shares in the last quarter. Atlas Wealth Partners LLC bought a new position in Mesabi Trust in the 4th quarter worth about $202,000. Steward Partners Investment Advisory LLC boosted its stake in Mesabi Trust by 47.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock worth $713,000 after purchasing an additional 8,133 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in Mesabi Trust in the 4th quarter worth about $233,000. Finally, Apollon Wealth Management LLC bought a new position in Mesabi Trust in the 3rd quarter worth about $344,000.

Mesabi Trust Price Performance

Shares of Mesabi Trust stock opened at $26.97 on Monday. The stock has a market cap of $353.89 million, a price-to-earnings ratio of 3.85 and a beta of 0.76. The firm’s 50-day moving average is $27.30 and its 200 day moving average is $25.55. Mesabi Trust has a 1 year low of $15.93 and a 1 year high of $37.00.

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

Mesabi Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were paid a dividend of $5.95 per share. The ex-dividend date was Thursday, January 30th. This represents a $23.80 annualized dividend and a yield of 88.24%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s dividend payout ratio is currently 339.51%.

Analyst Upgrades and Downgrades

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

About Mesabi Trust

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.