Mesabi Trust (NYSE:MSB) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Mesabi Trust (NYSE:MSB) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.35 and traded as high as $27.60. Mesabi Trust shares last traded at $27.31, with a volume of 17,389 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded Mesabi Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th.

Mesabi Trust Stock Performance

The company has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $21.43. The company has a market cap of $372.08 million, a PE ratio of 4.05 and a beta of 0.85.

Mesabi Trust (NYSE:MSB) last released its earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.50%. 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%.

Hedge Funds Weigh In On Mesabi Trust

Several hedge funds have recently bought and sold shares of the business. Quent Capital LLC bought a new position in Mesabi Trust in the 3rd quarter worth $159,000. Apollon Wealth Management LLC acquired a new position in shares of Mesabi Trust during the third quarter worth approximately $344,000. Pecaut & CO. boosted its position 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 acquiring an additional 4,000 shares during the period. EagleClaw Capital Managment LLC grew its stake in shares of Mesabi Trust by 27.9% in the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after acquiring an additional 31,900 shares during the last quarter. Finally, Mad River Investors increased its position in Mesabi Trust by 2.0% during the second quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock worth $5,025,000 after acquiring an additional 5,809 shares during the period.

About Mesabi Trust

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.