Mesabi Trust (NYSE:MSB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Mesabi Trust (NYSE:MSB) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $18.80 and traded as high as $24.46. Mesabi Trust shares last traded at $23.83, with a volume of 14,216 shares changing hands.

Analyst Upgrades and Downgrades

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

Mesabi Trust Trading Down 1.6 %

The company’s 50-day simple moving average is $21.61 and its two-hundred day simple moving average is $18.80.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share for the quarter. The business had revenue of $6.49 million during 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 will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.56 annualized dividend and a yield of 6.55%. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.30. Mesabi Trust’s dividend payout ratio is presently 88.89%.

Institutional Investors Weigh In On Mesabi Trust

Several institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in shares of Mesabi Trust in the 1st quarter worth about $124,000. Pecaut & CO. lifted its position in shares of Mesabi Trust by 29.2% in the 1st quarter. Pecaut & CO. now owns 17,700 shares of the mining company’s stock worth $312,000 after purchasing an additional 4,000 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Mesabi Trust in the 2nd quarter worth about $576,000. Mad River Investors lifted its position in shares of Mesabi Trust by 2.0% in the 2nd quarter. Mad River Investors now owns 291,646 shares of the mining company’s stock worth $5,025,000 after purchasing an additional 5,809 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Mesabi Trust by 28.3% in the 2nd quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock worth $8,003,000 after purchasing an additional 102,520 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.