Mesabi Trust (NYSE:MSB) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

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 $29.03 and traded as high as $35.50. Mesabi Trust shares last traded at $34.86, with a volume of 24,257 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Mesabi Trust in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mesabi Trust currently has an average rating of “Buy”.

Mesabi Trust Stock Up 0.8%

The company has a market capitalization of $457.36 million, a price-to-earnings ratio of 4.93 and a beta of 0.59. The business has a 50-day moving average price of $32.39 and a 200-day moving average price of $29.03.

Mesabi Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, October 30th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, October 30th. This is a boost from Mesabi Trust’s previous quarterly dividend of $0.12. Mesabi Trust’s dividend payout ratio is presently 19.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EagleClaw Capital Managment LLC lifted its position in shares of Mesabi Trust by 13.4% in the 1st quarter. EagleClaw Capital Managment LLC now owns 165,225 shares of the mining company’s stock valued at $4,494,000 after acquiring an additional 19,500 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in Mesabi Trust during the 2nd quarter worth approximately $818,000. HighTower Advisors LLC raised its stake in Mesabi Trust by 19.8% during the 1st quarter. HighTower Advisors LLC now owns 24,421 shares of the mining company’s stock valued at $664,000 after purchasing an additional 4,034 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of Mesabi Trust in the second quarter valued at $329,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Mesabi Trust by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 77,213 shares of the mining company’s stock valued at $2,100,000 after purchasing an additional 1,127 shares in the last quarter.

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.