Mesabi Trust (NYSE:MSB) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Mesabi Trust (NYSE:MSB - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.30 and traded as high as $27.64. Mesabi Trust shares last traded at $27.26, with a volume of 43,178 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Mesabi Trust from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th.

Mesabi Trust Trading Down 4.3 %

The firm has a 50-day moving average of $26.91 and a 200 day moving average of $26.37. The company has a market cap of $323.01 million, a P/E ratio of 3.51 and a beta of 0.76.

Mesabi Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were given a dividend of $5.95 per share. This represents a $23.80 dividend on an annualized basis and a dividend yield of 96.67%. The ex-dividend date of this dividend was Thursday, January 30th. This is an increase from Mesabi Trust's previous quarterly dividend of $0.39. Mesabi Trust's payout ratio is presently 339.51%.

Institutional Investors Weigh In On Mesabi Trust

Large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its position in shares of Mesabi Trust by 47.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,366 shares of the mining company's stock worth $713,000 after purchasing an additional 8,133 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in Mesabi Trust by 6.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,843,010 shares of the mining company's stock worth $79,917,000 after acquiring an additional 183,387 shares in the last quarter. Moors & Cabot Inc. grew its stake in Mesabi Trust by 7.2% in the fourth quarter. Moors & Cabot Inc. now owns 533,942 shares of the mining company's stock valued at $15,009,000 after acquiring an additional 36,029 shares during the period. Heron Bay Capital Management bought a new stake in shares of Mesabi Trust during the fourth quarter valued at approximately $204,000. Finally, OFI Invest Asset Management acquired a new position in shares of Mesabi Trust during the fourth quarter worth approximately $988,000.

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.