Mesabi Trust (NYSE:MSB) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Mesabi Trust (NYSE:MSB) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.19 and traded as high as $27.78. Mesabi Trust shares last traded at $26.72, with a volume of 29,706 shares traded.

Analyst Upgrades and Downgrades

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

Mesabi Trust Trading Down 1.9 %

The company’s fifty day moving average is $26.86 and its 200-day moving average is $22.19. The firm has a market capitalization of $350.57 million, a P/E ratio of 3.81 and a beta of 0.85.

Mesabi Trust (NYSE:MSB) last released 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 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 was Wednesday, October 30th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.84%. Mesabi Trust’s payout ratio is 22.25%.

Institutional Trading of Mesabi Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Moors & Cabot Inc. lifted its stake in shares of Mesabi Trust by 28.3% in the second quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company’s stock valued at $8,003,000 after buying an additional 102,520 shares during the period. Beddow Capital Management Inc. lifted its position in shares of Mesabi Trust by 0.7% in the 2nd quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after acquiring an additional 3,028 shares during the period. Mad River Investors grew its holdings in shares of Mesabi Trust by 0.5% during the 3rd 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 in the last quarter. Quent Capital LLC bought a new stake in shares of Mesabi Trust during the third quarter valued at approximately $159,000. Finally, Horizon Kinetics Asset Management LLC raised its stake in shares of Mesabi Trust by 1.4% in the third 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.

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.