Mesabi Trust (NYSE:MSB) Share Price Crosses Above 200-Day Moving Average - Should You Sell?
Mesabi Trust (NYSE:MSB) shares have crossed above their 200-day moving average, trading at $25.33 with a market cap of $332.33 million. Analysts upgraded the stock from "hold" to "strong-buy". The company reported an EPS of $5.97 and announced a quarterly dividend of $5.95 per share, significantly higher than the previous $0.39. Institutional investors have increased their stakes in the company, indicating growing confidence in its performance.
Mesabi Trust (NYSE:MSB - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.00 and traded as high as $25.67. Mesabi Trust shares last traded at $25.33, with a volume of 57,447 shares changing hands.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Mesabi Trust from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th.
View Our Latest Stock Report on Mesabi Trust
Mesabi Trust Trading Up 0.2 %
The business's fifty day simple moving average is $27.74 and its 200-day simple moving average is $24.00. The firm has a market cap of $332.33 million, a P/E ratio of 3.61 and a beta of 0.84.
Mesabi Trust (NYSE:MSB - Get Free Report) last released its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 EPS for the quarter. Mesabi Trust had a return on equity of 231.09% and a net margin of 93.80%.
Mesabi Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be given a dividend of $5.95 per share. This is a boost from Mesabi Trust's previous quarterly dividend of $0.39. This represents a $23.80 dividend on an annualized basis and a yield of 93.96%. The ex-dividend date is Thursday, January 30th. Mesabi Trust's dividend payout ratio (DPR) is 339.52%.
Institutional Investors Weigh In On Mesabi Trust
A number of institutional investors have recently modified their holdings of MSB. Mad River Investors raised its stake in shares of Mesabi Trust by 0.5% in the third 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 during the last quarter. Moors & Cabot Inc. increased its holdings in Mesabi Trust by 7.2% in the 3rd quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company's stock worth $11,278,000 after buying an additional 33,411 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in Mesabi Trust by 1.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company's stock worth $60,240,000 after buying an additional 37,417 shares during the last quarter. EagleClaw Capital Managment LLC lifted 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 during the period. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Mesabi Trust during the 3rd quarter valued at about $344,000.
Mesabi Trust Company Profile
(Get Free Report)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.
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