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 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 changing hands.

Analyst Ratings Changes

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

Mesabi Trust Price Performance

The company has a fifty day simple moving average of $26.86 and a 200-day simple moving average of $22.19. The company has a market cap of $350.57 million, a P/E ratio of 3.81 and a beta of 0.85.

Mesabi Trust (NYSE:MSB) last issued its earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) 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 disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th were paid 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 yield of 5.84%. Mesabi Trust’s dividend payout ratio is currently 22.25%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MSB. Mad River Investors lifted its stake in Mesabi Trust by 0.5% in the 3rd quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock worth $6,638,000 after acquiring an additional 1,423 shares in the last quarter. Beddow Capital Management Inc. lifted its position in shares of Mesabi Trust by 0.7% in the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after purchasing an additional 3,028 shares in the last quarter. Pecaut & CO. boosted its holdings in shares of Mesabi Trust by 22.6% during the second quarter. Pecaut & CO. now owns 21,700 shares of the mining company’s stock worth $371,000 after purchasing an additional 4,000 shares during the period. Quent Capital LLC purchased a new position in Mesabi Trust during the third quarter valued at approximately $159,000. Finally, Apollon Wealth Management LLC acquired a new position in Mesabi Trust in the 3rd quarter valued at approximately $344,000.

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.