Mesabi Trust (NYSE:MSB) Issues Earnings Results

Mesabi Trust (NYSE:MSB) announced its quarterly earnings results on Friday. The mining company reported $5.97 earnings per share (EPS) for the quarter, Zacks reports. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Mesabi Trust Stock Down 3.5 %

Shares of MSB traded down $0.91 during mid-day trading on Friday, hitting $25.41. 13,617 shares of the company’s stock were exchanged, compared to its average volume of 27,497. The stock’s 50-day simple moving average is $25.70 and its 200-day simple moving average is $20.79. Mesabi Trust has a 52 week low of $15.93 and a 52 week high of $28.69.

Mesabi Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend was Wednesday, October 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.30. Mesabi Trust’s dividend payout ratio is presently 115.56%.

Analyst Upgrades and Downgrades

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

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.