Heron Bay Capital Management Makes New $204,000 Investment in Mesabi Trust (NYSE:MSB)

Heron Bay Capital Management bought a new position in shares of Mesabi Trust (NYSE:MSB) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 7,315 shares of the mining company’s stock, valued at approximately $204,000. Heron Bay Capital Management owned approximately 0.06% of Mesabi Trust as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in MSB. Horizon Kinetics Asset Management LLC boosted its position in shares of Mesabi Trust by 1.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock worth $60,240,000 after buying an additional 37,417 shares in the last quarter. Mad River Investors boosted its position in shares of Mesabi Trust by 0.6% in the 4th quarter. Mad River Investors now owns 294,901 shares of the mining company’s stock worth $8,290,000 after buying an additional 1,832 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Mesabi Trust in the 4th quarter worth about $233,000. Atlas Wealth Partners LLC purchased a new stake in shares of Mesabi Trust in the 4th quarter worth about $202,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Mesabi Trust by 47.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company’s stock worth $713,000 after buying an additional 8,133 shares in the last quarter.

Analyst Ratings Changes

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

Mesabi Trust Trading Down 2.9 %

NYSE:MSB opened at $27.20 on Friday. The firm has a market cap of $356.92 million, a price-to-earnings ratio of 3.88 and a beta of 0.76. The company’s 50-day moving average is $27.32 and its two-hundred day moving average is $25.85. Mesabi Trust has a 12-month low of $15.93 and a 12-month high of $37.00.

Mesabi Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were issued a $5.95 dividend. This represents a $23.80 dividend on an annualized basis and a yield of 87.49%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 30th. Mesabi Trust’s dividend payout ratio is 339.51%.

Mesabi Trust Profile

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.