Short Interest in Mesabi Trust (NYSE:MSB) Increases By 21.6%

Mesabi Trust (NYSE:MSB) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 446,900 shares, an increase of 21.6% from the January 15th total of 367,500 shares. Based on an average daily trading volume, of 57,700 shares, the days-to-cover ratio is currently 7.7 days. Approximately 3.4% of the company’s stock are sold short.

Mesabi Trust Stock Performance

NYSE:MSB traded up $0.18 during mid-day trading on Monday, hitting $25.32. 27,840 shares of the company’s stock traded hands, compared to its average volume of 121,885. The company has a market capitalization of $332.20 million, a P/E ratio of 3.61 and a beta of 0.84. The company has a fifty day moving average of $27.61 and a 200 day moving average of $24.22. Mesabi Trust has a twelve month low of $15.93 and a twelve month high of $37.00.

Mesabi Trust (NYSE:MSB) last posted its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.

Mesabi Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be paid a $5.95 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $23.80 dividend on an annualized basis and a dividend yield of 94.00%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s dividend payout ratio is presently 339.51%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSB. Mad River Investors lifted its holdings in shares of Mesabi Trust by 0.5% in the 3rd quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock valued at $6,638,000 after buying an additional 1,423 shares during the period. Apollon Wealth Management LLC acquired a new position in Mesabi Trust in the third quarter valued at approximately $344,000. EagleClaw Capital Managment LLC boosted its position in Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after purchasing an additional 31,900 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Mesabi Trust by 7.2% during the 3rd quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock worth $11,278,000 after purchasing an additional 33,411 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of Mesabi Trust by 1.4% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock valued at $60,240,000 after purchasing an additional 37,417 shares in the last quarter.

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.