Mesabi Trust (NYSE:MSB) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

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

Wall Street Analyst Weigh In

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

Mesabi Trust Price Performance

The company has a fifty day simple moving average of $23.03 and a 200-day simple moving average of $19.31. The company has a market cap of $336.66 million, a P/E ratio of 19.01 and a beta of 0.83.

Mesabi Trust (NYSE:MSB) last announced its earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share (EPS) for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The company had revenue of $6.49 million for the quarter.

Mesabi Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is 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 yield of 6.08%. Mesabi Trust’s dividend payout ratio is currently 115.56%.

Institutional Investors Weigh In On Mesabi Trust

Several hedge funds have recently made changes to their positions in MSB. Quent Capital LLC acquired a new stake in Mesabi Trust during the 3rd quarter valued at $159,000. Apollon Wealth Management LLC acquired a new position in Mesabi Trust during the third quarter valued at $344,000. Pecaut & CO. lifted its stake in Mesabi Trust by 22.6% in the 2nd quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after acquiring an additional 4,000 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Mesabi Trust during the 2nd quarter worth about $576,000. Finally, EagleClaw Capital Managment LLC grew its stake in Mesabi Trust by 27.9% during 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 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.