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

Mesabi Trust (NYSE:MSB)’s stock price 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.

Wall Street Analysts Forecast Growth

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

Mesabi Trust Stock Down 3.5 %

The stock has a fifty day moving average of $25.75 and a two-hundred day moving average of $20.85. The stock 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 (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 announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.39 per share. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a yield of 6.14%. The ex-dividend date of this dividend was Wednesday, October 30th. Mesabi Trust’s dividend payout ratio (DPR) is 22.25%.

Institutional Investors Weigh In On Mesabi Trust

A number of large investors have recently bought and sold shares of the stock. Horizon Kinetics Asset Management LLC lifted its holdings in Mesabi Trust by 1.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock valued at $60,240,000 after purchasing an additional 37,417 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Mesabi Trust by 7.2% during the third quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock valued at $11,278,000 after buying an additional 33,411 shares during the period. EagleClaw Capital Managment LLC boosted its holdings in shares of Mesabi Trust by 27.9% during the third 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. Apollon Wealth Management LLC purchased a new stake in shares of Mesabi Trust in the third quarter valued at $344,000. Finally, Mad River Investors increased its stake in Mesabi Trust by 0.5% in the third quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock valued at $6,638,000 after purchasing an additional 1,423 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.