JPMorgan Chase & Co. Has $829,000 Stock Holdings in Mesabi Trust (NYSE:MSB)

JPMorgan Chase & Co. reduced its stake in shares of Mesabi Trust (NYSE:MSB) by 14.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 36,611 shares of the mining company’s stock after selling 6,355 shares during the period. JPMorgan Chase & Co.’s holdings in Mesabi Trust were worth $829,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mad River Investors increased its stake in shares of Mesabi Trust by 0.5% during the 3rd quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock worth $6,638,000 after purchasing an additional 1,423 shares during the last quarter. Quent Capital LLC bought a new position in shares of Mesabi Trust in the 3rd quarter valued at approximately $159,000. Moors & Cabot Inc. lifted its holdings in Mesabi Trust by 7.2% in 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 last quarter. Horizon Kinetics Asset Management LLC boosted its position in Mesabi Trust by 1.4% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock worth $60,240,000 after purchasing an additional 37,417 shares during the period. Finally, EagleClaw Capital Managment LLC grew its holdings in Mesabi Trust by 27.9% during the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock valued at $3,316,000 after purchasing an additional 31,900 shares during the last quarter.

Mesabi Trust Stock Performance

Mesabi Trust stock opened at $31.39 on Monday. Mesabi Trust has a 52 week low of $15.93 and a 52 week high of $32.04. The firm has a market capitalization of $411.77 million, a PE ratio of 4.48 and a beta of 0.85. The business’s 50-day simple moving average is $27.66 and its 200-day simple moving average is $23.20.

Mesabi Trust (NYSE:MSB) last released its earnings results on Friday, December 13th. The mining company reported $5.97 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 announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors 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 yield of 75.83%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s payout ratio is presently 22.25%.

Analyst Ratings Changes

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

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.