Mesabi Trust (NYSE:MSB) Shares Sold by Hodges Capital Management Inc.
Hodges Capital Management Inc. cut its position in Mesabi Trust (NYSE:MSB) by 36.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,700 shares of the mining company’s stock after selling 41,780 shares during the period. Hodges Capital Management Inc.’s holdings in Mesabi Trust were worth $979,000 at the end of the most recent reporting period.
Shares of Mesabi Trust (NYSE MSB) opened at 15.05 on Thursday. The company has a market capitalization of $197.46 million, a price-to-earnings ratio of 14.73 and a beta of 0.35. Mesabi Trust has a 52 week low of $8.05 and a 52 week high of $17.42. The stock has a 50 day moving average of $13.82 and a 200-day moving average of $14.48.
The company also recently declared a quarterly dividend, which will be paid on Sunday, August 20th. Shareholders of record on Sunday, July 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Wednesday, July 26th. Mesabi Trust’s payout ratio is 62.75%.
Separately, TheStreet upgraded shares of Mesabi Trust from a “c” rating to a “b” rating in a research note on Monday, May 15th.
About Mesabi Trust
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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