Horizon Kinetics Asset Management LLC Acquires 37,417 Shares of Mesabi Trust (NYSE:MSB)

Horizon Kinetics Asset Management LLC increased its holdings in Mesabi Trust (NYSE:MSB) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,659,623 shares of the mining company’s stock after buying an additional 37,417 shares during the quarter. Mesabi Trust comprises approximately 0.9% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 12th biggest position. Horizon Kinetics Asset Management LLC’s holdings in Mesabi Trust were worth $60,240,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Moors & Cabot Inc. lifted its stake in shares of Mesabi Trust by 28.3% in the 2nd quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock worth $8,003,000 after purchasing an additional 102,520 shares during the period. OFI Invest Asset Management bought a new position in Mesabi Trust in the second quarter worth approximately $576,000. EagleClaw Capital Managment LLC boosted its stake in shares of Mesabi Trust by 27.9% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after acquiring an additional 31,900 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Mesabi Trust during the 3rd quarter valued at $344,000. Finally, Quent Capital LLC purchased a new stake in shares of Mesabi Trust in the 3rd quarter worth $159,000.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Mesabi Trust from a “buy” rating to a “hold” rating in a research report on Monday, September 9th.

Mesabi Trust Trading Up 2.2 %

Shares of NYSE:MSB opened at $26.60 on Monday. The stock has a 50 day moving average of $24.40 and a 200 day moving average of $19.88. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $26.99.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share for the quarter. The business had revenue of $6.49 million for the quarter. Mesabi Trust had a net margin of 74.00% and a return on equity of 83.21%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.39 per share. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date was Wednesday, October 30th. Mesabi Trust’s dividend payout ratio (DPR) is 115.56%.

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.