Mesabi Trust (NYSE:MSB - Get Free Report)'s stock price crossed 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.
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 Report on MSB
Mesabi Trust Stock Up 0.7 %
The company has a market cap of $332.20 million, a price-to-earnings ratio of 3.61 and a beta of 0.84. The firm has a 50 day moving average price of $27.64 and a two-hundred day moving average price of $24.12.
Mesabi Trust (NYSE:MSB - Get Free Report) last announced its earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share for the quarter. Mesabi Trust had a net margin of 93.80% and a return on equity of 231.09%.
Mesabi Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th will be paid a $5.95 dividend. The ex-dividend date is Thursday, January 30th. This is a positive change from Mesabi Trust's previous quarterly dividend of $0.39. This represents a $23.80 annualized dividend and a yield of 94.00%. Mesabi Trust's payout ratio is 339.52%.
Institutional Trading of Mesabi Trust
Several hedge funds have recently modified their holdings of MSB. Atlas Wealth Partners LLC bought a new position in Mesabi Trust during the fourth quarter worth $202,000. Heron Bay Capital Management bought a new position in shares of Mesabi Trust during the 4th quarter worth about $204,000. Bank of Montreal Can acquired a new stake in shares of Mesabi Trust in the 4th quarter valued at about $208,000. Kingsview Wealth Management LLC acquired a new stake in shares of Mesabi Trust in the 4th quarter valued at about $233,000. Finally, Apollon Wealth Management LLC bought a new stake in Mesabi Trust in the 3rd quarter valued at about $344,000.
About Mesabi Trust
(
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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