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

Mesabi Trust (NYSE:MSB)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

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

Mesabi Trust Stock Performance

The business has a 50-day simple moving average of $26.63 and a 200 day simple moving average of $21.86. The firm has a market cap of $371.16 million, a P/E ratio of 4.04 and a beta of 0.85.

Mesabi Trust (NYSE:MSB) last announced 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. Shareholders of record on Wednesday, October 30th were issued a $0.39 dividend. The ex-dividend date was Wednesday, October 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a yield of 5.51%. Mesabi Trust’s dividend payout ratio is 22.25%.

Institutional Trading of Mesabi Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of Mesabi Trust during the third quarter valued at approximately $159,000. Apollon Wealth Management LLC purchased a new stake in shares of Mesabi Trust in the 3rd quarter worth approximately $344,000. Pecaut & CO. raised its stake in Mesabi Trust by 22.6% during 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. EagleClaw Capital Managment LLC raised its position in shares of Mesabi Trust by 27.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock worth $3,316,000 after purchasing an additional 31,900 shares during the last quarter. Finally, Mad River Investors grew its position in Mesabi Trust by 2.0% during the 2nd 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 last quarter.

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.