Mesabi Trust $MSB Stock Holdings Decreased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its position in Mesabi Trust (NYSE:MSB) by 30.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,179 shares of the mining company’s stock after selling 4,836 shares during the quarter. Apollon Wealth Management LLC’s holdings in Mesabi Trust were worth $268,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSB. Golden State Wealth Management LLC raised its stake in Mesabi Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. EagleClaw Capital Managment LLC grew its holdings in shares of Mesabi Trust by 13.4% during the first quarter. EagleClaw Capital Managment LLC now owns 165,225 shares of the mining company’s stock valued at $4,494,000 after buying an additional 19,500 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Mesabi Trust during the first quarter valued at $251,000. Redhawk Wealth Advisors Inc. acquired a new position in Mesabi Trust during the second quarter valued at $818,000. Finally, HighTower Advisors LLC lifted its stake in Mesabi Trust by 19.8% in the 1st quarter. HighTower Advisors LLC now owns 24,421 shares of the mining company’s stock worth $664,000 after acquiring an additional 4,034 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Mesabi Trust in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Mesabi Trust Stock Up 1.3%

Mesabi Trust stock opened at $31.10 on Friday. Mesabi Trust has a 12 month low of $22.24 and a 12 month high of $37.00. The stock has a market cap of $407.97 million, a P/E ratio of 4.40 and a beta of 0.55. The company’s fifty day simple moving average is $31.10 and its 200-day simple moving average is $27.96.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings data on Monday, September 15th. The mining company reported $0.36 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 230.41% and a net margin of 96.44%.The firm had revenue of $5.61 million during the quarter.

Mesabi Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, October 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, October 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.12. Mesabi Trust’s dividend payout ratio (DPR) is presently 6.79%.

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.