Mesabi Trust (NYSE:MSB) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Mesabi Trust (NYSE:MSB) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.79 and traded as high as $27.31. Mesabi Trust shares last traded at $26.57, with a volume of 18,413 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Mesabi Trust from a “buy” rating to a “hold” rating in a research note on Monday, September 9th.

Mesabi Trust Trading Down 3.5 %

The firm’s fifty day moving average price is $25.75 and its 200-day moving average price is $20.85. The firm has a market cap of $333.38 million, a price-to-earnings ratio of 3.62 and a beta of 0.85.

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

Mesabi Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, October 30th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend was Wednesday, October 30th. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. Mesabi Trust’s dividend payout ratio (DPR) is currently 22.25%.

Institutional Investors Weigh In On Mesabi Trust

Several large investors have recently modified their holdings of MSB. OFI Invest Asset Management acquired a new position in shares of Mesabi Trust in the 2nd quarter valued at $576,000. Mad River Investors increased its stake in Mesabi Trust by 2.0% in the second quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock valued at $5,025,000 after purchasing an additional 5,809 shares during the period. Pecaut & CO. raised its holdings in shares of Mesabi Trust by 22.6% in the second quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock valued at $371,000 after buying an additional 4,000 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Mesabi Trust by 28.3% during the second quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock worth $8,003,000 after buying an additional 102,520 shares during the period. Finally, Beddow Capital Management Inc. grew its holdings in shares of Mesabi Trust by 0.7% during the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after buying an additional 3,028 shares during the last quarter.

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.