It is currently trading at $22.75 which is slightly above the 50 day moving average which is $20.76 and significantly higher than the 200 day moving average of $15.91. The 50 day moving average went up by +9.58% and the 200 day average was up $6.84. (NYSE:MSB) shares saw light trading volume with 12K shares changing hands on Tuesday. Overall, volume was down 84.82% under the stocks normal daily volume.
Investors are more bearish on Mesabi Trust of late considering the motion in short interest. The company saw a rise in short interest between September 15, 2017 and September 29, 2017 of 89.43%. Short shares grew 31,498 over that timeframe. Days to cover decreased -1.0 to 0.0 and the percentage of shorted shares is 0.01% as of September 29.
Additionally, here are a few investment firms who have increased or decreased their stake in (MSB). As of the end of the quarter Creative Planning had acquired a total of 4,954 shares growing its stake by 707.7%. The value of the total investment in Mesabi Trust increased from $11,000 to $77,000 increasing 600.0% quarter over quarter. Freestone Capital Holdings, LLC added to its holdings by buying 25,000 shares an increase of 7.5% from 03/31/2017 to 06/30/2017. Freestone Capital Holdings, LLC controls 358,177 shares valued at $4,888,000. The value of the position overall is down by 2.2%.
Ubs Group Ag bolstered its ownership by buying 600 shares an increase of 150.0% in the quarter. Ubs Group Ag owns 1,000 shares with a value of $14,000. The total value of its holdings increased 133.3%. As of quarter end Hartwell J M Limited Partnership had sold 8,000 shares trimming its position 8.1%. The value of the investment in MSB went from $1,340,000 to $2,075,000 a change of 54.9% quarter to quarter.
The company is now down since yesterday’s close of 23.4. The company also announced a dividend for shareholders that was paid on Sunday August 20th, 2017. The dividend was $0.373 per share for the quarter or $1.49 on an annualized basis. This dividend amount was represent a yield of $6.21. The ex-dividend date was Wednesday the 26th of July 2017.
Mesabi Trust currently has a P/E ratio of 12.38 and market capitalization is 298.48M.
Mesabi Trust, incorporated in 1961, 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). NMC produces iron ore from Mesabi Trust Lands for the manufacture of iron ore products to be sold to various customers of Cliffs. Mesabi Trust receives royalties on the crude ore extracted from such lands and the pellets produced from such crude ore..