Mesabi Trust (NYSE:MSB) Issues Quarterly Earnings Results

Mesabi Trust (NYSE:MSB - Get Free Report) announced its earnings results on Monday. The mining company reported $0.36 EPS for the quarter, Zacks reports. Mesabi Trust had a return on equity of 233.00% and a net margin of 96.23%.Mesabi Trust Price PerformanceNYSE MSB traded down $0.24 on Monday, hitting $31.21. 18,091 shares of the stock were exchanged, compared to its average volume of 54,867. Mesabi Trust has a 52-week low of $20.25 and a 52-week high of $37.00. The company has a market capitalization of $409.41 million, a price-to-earnings ratio of 4.38 and a beta of 0.53. The company's 50-day moving average price is $29.42 and its two-hundred day moving average price is $27.22. Mesabi Trust Cuts DividendThe company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, July 30th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, July 30th. Mesabi Trust's payout ratio is presently 6.74%. Hedge Funds Weigh In On Mesabi TrustSeveral institutional investors and hedge funds have recently modified their holdings of MSB. Royal Bank of Canada grew its holdings in shares of Mesabi Trust by 14.1% during the 1st quarter. Royal Bank of Canada now owns 26,662 shares of the mining company's stock valued at $725,000 after acquiring an additional 3,303 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Mesabi Trust during the 1st quarter valued at $44,000. Geode Capital Management LLC purchased a new position in shares of Mesabi Trust during the 2nd quarter valued at $265,000. Russell Investments Group Ltd. grew its holdings in shares of Mesabi Trust by 29.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 17,042 shares of the mining company's stock valued at $408,000 after acquiring an additional 3,914 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Mesabi Trust by 57.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company's stock valued at $39,000 after acquiring an additional 587 shares in the last quarter. Wall Street Analyst Weigh InSeparately, Wall Street Zen cut Mesabi Trust from a "buy" rating to a "hold" rating in a report on Saturday, June 14th.Check Out Our Latest Report on Mesabi TrustAbout Mesabi Trust (Get Free Report)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. Featured ArticlesFive stocks we like better than Mesabi TrustHow Investors Can Identify and Successfully Trade Gap-Down StocksFuelCell Energy's Stock: Is a Fundamental Breakout Underway?Should You Invest in Penny Stocks?Palantir’s Commercial Growth Story Is Just Getting Started Stock Trading Terms - Stock Terms Every Investor Needs to Know$100 Million Buyback in Upwork Stock Follows a Strong Quarter This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Mesabi Trust Right Now?Before you consider Mesabi Trust, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mesabi Trust wasn't on the list.While Mesabi Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here