Beddow Capital Management, Inc. recently announced the acquisition of new stake in Mesabi Trust (NYSE:MSB). The institutional investor has increased its shareholding in the Basic Materials company by 0.82% to 0.43 million shares with purchase of 3500.0 shares. This fresh investment now brings its stake to 3.29% valued currently at $7.78 million. In addition, MRM-Horizon Advisors LLC raised its holdings by 2400.0 to 0.2 million shares. And Morgan Stanley Smith Barney LLC has lifted its position by 13.71% or 17643.0 shares – to 0.15 million shares.
With over 0.13 million Mesabi Trust (MSB) shares trading Friday and a closing price of $19.80 on the day, the dollar volume was approximately $2.52 million. The shares have shown a negative half year performance of -26.09% and its price on 01/13/23 lost nearly -4.49%. Currently, there are 13.12M common shares owned by the public and among those 13.11M shares have been available to trade.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Mesabi Trust are Horizon Kinetics Inflation Benefi, OFI Invest – US Equity, and RENN Fund Inc. Horizon Kinetics Inflation Benefi owns 0.58 million shares of the company’s stock, all valued at over $10.4 million. The company bought an additional 1000.0 shares recently to bring their total holdings to about 4.40% of the shares outstanding. RENN Fund Inc. now owns shares totaling to 0.14% of the shares outstanding.
Shares of Mesabi Trust (NYSE: MSB) opened at $19.83, down -$0.9 from a prior closing price of $20.73. However, the script later moved the day high at 20.50, down -4.49%. The company’s stock has a 5-day price change of 8.20% and -2.27% over the past three months. MSB shares are trading 9.88% year to date (YTD), with the 12-month market performance down to -40.02% lower. It has a 12-month low price of $16.56 and touched a high of $35.65 over the same period. MSB has an average intraday trading volume of 77.22K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.12%, 1.62%, and -16.47% respectively.
Institutional ownership of Mesabi Trust (NYSE: MSB) shares accounts for 35.00% of the company’s 13.12M shares outstanding. Mutual fund holders own 29.83%, while other institutional holders and individual stakeholders account for 5.15% and 0.08% respectively.
It has a market capitalization of $272.05M and a beta (3y monthly) value of 0.91. The stock’s trailing 12-month PE ratio is 10.08, while the earnings-per-share (ttm) stands at $1.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.18% over the week and 3.76% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MSB, a number of firms have released research notes about the stock. Davenport stated their Buy rating for the stock in a research note on May 09, 2011, with the firm’s price target at $40. Davenport was of a view on September 09, 2010 that the stock is Buy, while Davenport gave the stock Buy rating on August 23, 2010, issuing a price target of $26- $29. Davenport on their part issued Neutral rating on January 11, 2010.
