Insider Buying: Mesabi Trust (NYSE:MSB) Insider Purchases 498 Shares of Stock

Mesabi Trust (NYSE:MSB) insider Robin M. Radke purchased 498 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $29.50 per share, with a total value of $14,691.00. Following the completion of the acquisition, the insider now directly owns 94 shares of the company’s stock, valued at $2,773. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of Mesabi Trust stock traded up $0.42 during trading on Thursday, reaching $29.53. The company’s stock had a trading volume of 591 shares, compared to its average volume of 42,817. Mesabi Trust has a one year low of $22.88 and a one year high of $32.67.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Tuesday, April 30th were issued a $0.89 dividend. The ex-dividend date was Monday, April 29th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 12.06%.

Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Mesabi Trust by 36.7% in the first quarter. Morgan Stanley now owns 182,385 shares of the mining company’s stock valued at $5,342,000 after buying an additional 48,955 shares during the last quarter. Valueworks LLC raised its holdings in shares of Mesabi Trust by 0.7% in the fourth quarter. Valueworks LLC now owns 172,517 shares of the mining company’s stock valued at $4,087,000 after buying an additional 1,119 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Mesabi Trust by 13.6% in the fourth quarter. Acadian Asset Management LLC now owns 135,303 shares of the mining company’s stock valued at $3,206,000 after buying an additional 16,164 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Mesabi Trust by 3.5% in the first quarter. California Public Employees Retirement System now owns 65,077 shares of the mining company’s stock valued at $1,906,000 after buying an additional 2,228 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Mesabi Trust by 4.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 39,908 shares of the mining company’s stock valued at $1,169,000 after buying an additional 1,783 shares during the last quarter. 19.19% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://sportsperspectives.com/2019/06/13/insider-buying-mesabi-trust-nysemsb-insider-purchases-498-shares-of-stock.html.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.

Further Reading: What is intrinsic value?

Receive News & Ratings for Mesabi Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mesabi Trust and related companies with MarketBeat.com's FREE daily email newsletter.