Mesabi Trust (NYSE:MSB) Shares Cross Above 200-Day Moving Average of $17.84

Shares of 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 $17.84 and traded as high as $23.26. Mesabi Trust shares last traded at $22.65, with a volume of 19,772 shares traded.

Analyst Ratings Changes

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

Mesabi Trust Stock Down 0.7 %

The firm has a market cap of $297.17 million, a PE ratio of 13.81 and a beta of 0.83. The business has a 50 day simple moving average of $18.51 and a two-hundred day simple moving average of $17.84.

Mesabi Trust (NYSE:MSB) last announced its quarterly earnings results on Thursday, September 5th. The mining company reported $0.41 EPS for the quarter. The firm had revenue of $6.49 million 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 company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.30%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.29. Mesabi Trust’s dividend payout ratio (DPR) is currently 73.17%.

Hedge Funds Weigh In On Mesabi Trust

Several institutional investors have recently made changes to their positions in the company. Beddow Capital Management Inc. increased its stake in shares of Mesabi Trust by 0.7% during the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock valued at $7,966,000 after buying an additional 3,028 shares during the period. Moors & Cabot Inc. increased its stake in shares of Mesabi Trust by 28.3% during 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. Pecaut & CO. boosted its position 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 purchasing an additional 4,000 shares in the last quarter. Mad River Investors boosted its position in Mesabi Trust by 2.0% during the second 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 in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Mesabi Trust during the second quarter valued at about $576,000.

Mesabi Trust Company Profile

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1961 and is based in New York, New York.