Freestone Capital Holdings LLC Has $4.89 Million Stake in Mesabi Trust (MSB)
Freestone Capital Holdings LLC increased its position in shares of Mesabi Trust (NYSE:MSB) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 358,177 shares of the mining company’s stock after buying an additional 25,000 shares during the quarter. Freestone Capital Holdings LLC owned about 2.73% of Mesabi Trust worth $4,888,000 at the end of the most recent reporting period.
Separately, Opus Capital Group LLC acquired a new stake in Mesabi Trust in the 2nd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 16.72% of the company’s stock.
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Separately, TheStreet downgraded shares of Mesabi Trust from a “b-” rating to a “c+” rating in a report on Monday, August 7th.
Shares of Mesabi Trust (NYSE MSB) opened at 15.65 on Thursday. Mesabi Trust has a 12-month low of $8.05 and a 12-month high of $17.42. The company has a 50-day moving average of $14.69 and a 200 day moving average of $14.46. The firm has a market cap of $205.33 million, a P/E ratio of 15.31 and a beta of 0.34.
The business also recently declared a quarterly dividend, which was paid on Sunday, August 20th. Shareholders of record on Sunday, July 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Wednesday, July 26th. Mesabi Trust’s dividend payout ratio is currently 62.75%.
Mesabi Trust Profile
Mesabi Trust 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).
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