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

Mesabi Trust (NYSE:MSB) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.31 and traded as high as $26.82. Mesabi Trust shares last traded at $25.66, with a volume of 26,048 shares.

Analyst Ratings Changes

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

Mesabi Trust Stock Up 2.0 %

The firm has a fifty day simple moving average of $23.38 and a two-hundred day simple moving average of $19.41.

Mesabi Trust (NYSE:MSB) last issued its quarterly earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share (EPS) for the quarter. The business had revenue of $6.49 million 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 announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, October 30th will be paid a $0.39 dividend. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 30th. This represents a $1.56 dividend on an annualized basis and a yield of 5.96%. Mesabi Trust’s dividend payout ratio (DPR) is 115.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MSB. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Mesabi Trust by 1.4% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock worth $60,240,000 after purchasing an additional 37,417 shares during the period. Moors & Cabot Inc. lifted its stake in Mesabi Trust by 7.2% during the 3rd quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock valued at $11,278,000 after acquiring an additional 33,411 shares during the period. EagleClaw Capital Managment LLC boosted its holdings 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 valued at $3,316,000 after acquiring an additional 31,900 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Mesabi Trust in the third quarter worth $344,000. Finally, Mad River Investors raised its holdings in shares of Mesabi Trust by 0.5% during the third quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock worth $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.