Mesabi Trust (NYSE:MSB) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totalling 103,500 shares, an increase of 109.9% from the May 14th total of 49,300 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average trading volume of 100,100 shares, the short-interest ratio is currently 1.0 days.
Several hedge funds have recently made changes to their positions in MSB. Tower Research Capital LLC TRC boosted its holdings in Mesabi Trust by 75.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,179 shares of the mining company’s stock valued at $28,000 after purchasing an additional 507 shares during the period. Cutler Group LP acquired a new stake in Mesabi Trust in the 4th quarter valued at about $48,000. CWA Asset Management Group LLC raised its position in Mesabi Trust by 14.1% in the 1st quarter. CWA Asset Management Group LLC now owns 21,035 shares of the mining company’s stock valued at $301,000 after purchasing an additional 2,594 shares in the last quarter. Valueworks LLC boosted its stake in shares of Mesabi Trust by 1.6% in the 4th quarter. Valueworks LLC now owns 192,033 shares of the mining company’s stock valued at $4,520,000 after buying an additional 3,085 shares during the period. Finally, Horizon Kinetics Asset Management LLC grew its position in shares of Mesabi Trust by 1.7% during the first quarter. Horizon Kinetics Asset Management LLC now owns 311,429 shares of the mining company’s stock worth $4,453,000 after buying an additional 5,139 shares in the last quarter. Hedge funds and other institutional investors own 13.49% of the company’s stock.
Shares of MSB stock traded down $1.02 during trading hours on Thursday, hitting $17.45. The company had a trading volume of 2,015 shares, compared to its average volume of 91,465. The company’s fifty day moving average is $15.57 and its 200 day moving average is $18.58. Mesabi Trust has a fifty-two week low of $9.76 and a fifty-two week high of $31.50. The stock has a market capitalization of $254.92 million, a PE ratio of 8.07 and a beta of 0.97.
Mesabi Trust (NYSE:MSB) last announced its earnings results on Monday, April 13th. The mining company reported $0.39 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 203.78% and a net margin of 93.95%. The company had revenue of $5.62 million for the quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Thursday, April 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 12.84%. The ex-dividend date of this dividend was Wednesday, April 29th.
About Mesabi Trust
Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.
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