Mesabi Trust (NYSE:MSB) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Mesabi Trust (NYSE:MSB) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.81 and traded as high as $28.68. Mesabi Trust shares last traded at $28.11, with a volume of 38,960 shares.

Wall Street Analyst Weigh In

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 Trading Up 0.6 %

The stock has a market capitalization of $371.16 million, a P/E ratio of 4.04 and a beta of 0.85. The company’s fifty day simple moving average is $26.63 and its 200 day simple moving average is $21.86.

Mesabi Trust (NYSE:MSB) last posted its earnings results on Friday, December 13th. The mining company reported $5.97 EPS for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, October 30th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.51%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 30th. Mesabi Trust’s dividend payout ratio is 22.25%.

Institutional Investors Weigh In On Mesabi Trust

Several hedge funds have recently bought and sold shares of MSB. Mad River Investors increased its holdings in shares of Mesabi Trust by 2.0% in the second quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock worth $5,025,000 after buying an additional 5,809 shares during the period. Pecaut & CO. grew its position in Mesabi Trust by 22.6% during the 2nd quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after acquiring an additional 4,000 shares during the last quarter. Moors & Cabot Inc. increased its stake in Mesabi Trust by 28.3% in the 2nd quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock worth $8,003,000 after purchasing an additional 102,520 shares during the period. Beddow Capital Management Inc. lifted its position in Mesabi Trust by 0.7% in the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock valued at $7,966,000 after purchasing an additional 3,028 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Mesabi Trust during the third quarter valued at approximately $159,000.

Mesabi Trust Company 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.