Short Interest in Mesabi Trust (NYSE:MSB) Drops By 16.4%

Mesabi Trust (NYSE:MSB) saw a large drop in short interest in February. As of February 13th, there was short interest totaling 120,938 shares, a drop of 16.4% from the January 29th total of 144,627 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 46,961 shares, the short-interest ratio is presently 2.6 days. Based on an average trading volume of 46,961 shares, the short-interest ratio is presently 2.6 days. Currently, 0.9% of the company’s stock are sold short.

Mesabi Trust Trading Down 4.9%

NYSE:MSB traded down $1.54 during mid-day trading on Thursday, hitting $30.08. The stock had a trading volume of 70,226 shares, compared to its average volume of 53,203. Mesabi Trust has a 52 week low of $22.55 and a 52 week high of $42.38. The stock has a market capitalization of $394.65 million, a price-to-earnings ratio of 22.96 and a beta of 0.56. The company has a 50 day simple moving average of $35.77 and a 200-day simple moving average of $33.77.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share for the quarter. Mesabi Trust had a return on equity of 79.30% and a net margin of 82.80%.The company had revenue of $3.39 million for the quarter.

Mesabi Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, January 30th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, January 30th. Mesabi Trust’s dividend payout ratio is currently 79.39%.

Institutional Trading of Mesabi Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quent Capital LLC acquired a new position in shares of Mesabi Trust during the 3rd quarter valued at $28,000. Quattro Advisors LLC acquired a new position in shares of Mesabi Trust in the 4th quarter worth approximately $31,000. NewEdge Advisors LLC raised its holdings in shares of Mesabi Trust by 57.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company’s stock worth $39,000 after purchasing an additional 587 shares in the last quarter. Colonial Trust Advisors acquired a new stake in Mesabi Trust during the third quarter valued at approximately $44,000. Finally, Acadian Asset Management LLC bought a new stake in Mesabi Trust during the first quarter worth approximately $44,000.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Mesabi Trust in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.