Mesabi Trust (MSB) Rating Lowered to C+ at TheStreet

TheStreet lowered shares of Mesabi Trust (NYSE:MSB) from a b- rating to a c+ rating in a report issued on Monday.

Mesabi Trust (MSB) opened at 15.10 on Monday. Mesabi Trust has a 12-month low of $8.05 and a 12-month high of $17.42. The company has a 50 day moving average price of $13.88 and a 200-day moving average price of $14.48. The company has a market capitalization of $198.11 million, a PE ratio of 14.77 and a beta of 0.35.

WARNING: “[[title]]” was first reported by [[site]] and is owned by of [[site]]. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at [[permalink]].

The business also recently announced a quarterly dividend, which will be paid on Sunday, August 20th. Stockholders of record on Sunday, July 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Wednesday, July 26th. Mesabi Trust’s dividend payout ratio (DPR) is currently 62.75%.

Several hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. acquired a new stake in Mesabi Trust during the second quarter valued at $138,000. Davis R M Inc. acquired a new stake in Mesabi Trust during the second quarter valued at $164,000. Opus Capital Group LLC acquired a new stake in Mesabi Trust during the second quarter valued at $232,000. Wells Fargo & Company MN raised its stake in Mesabi Trust by 0.7% in the second quarter. Wells Fargo & Company MN now owns 45,786 shares of the mining company’s stock valued at $625,000 after buying an additional 300 shares during the period. Finally, Freestone Capital Holdings LLC raised its stake in Mesabi Trust by 7.5% in the second quarter. Freestone Capital Holdings LLC now owns 358,177 shares of the mining company’s stock valued at $4,888,000 after buying an additional 25,000 shares during the period. 16.45% of the stock is currently owned by institutional investors.

Mesabi Trust Company Profile

Mesabi Trust is a royalty trust. The purpose of the Trust is to conserve and protect the Trust Estate. The Trust operates in the iron ore mining segment. The Trust derives income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The lessee/operator of Mesabi Trust’s mineral interests is Northshore Mining Corporation (NMC), a subsidiary of Cliffs Natural Resources Inc (Cliffs).