Shares of Mesabi Trust (NYSE:MSB - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.31 and traded as high as $26.82. Mesabi Trust shares last traded at $25.66, with a volume of 26,048 shares traded.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Mesabi Trust from a "buy" rating to a "hold" rating in a research report on Monday, September 9th.
Get Our Latest Research Report on MSB
Mesabi Trust Stock Performance
The firm has a market cap of $336.53 million, a P/E ratio of 19.01 and a beta of 0.83. The firm's fifty day simple moving average is $23.03 and its 200 day simple moving average is $19.31.
Mesabi Trust (NYSE:MSB - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The mining company reported $0.41 earnings per share for the quarter. Mesabi Trust had a return on equity of 83.21% and a net margin of 74.00%. The business had revenue of $6.49 million during the quarter.
Mesabi Trust Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Wednesday, October 30th. This is a positive change from Mesabi Trust's previous quarterly dividend of $0.30. Mesabi Trust's payout ratio is 115.56%.
Institutional Investors Weigh In On Mesabi Trust
A number of hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in Mesabi Trust in the second quarter valued at approximately $576,000. Moors & Cabot Inc. boosted its holdings in Mesabi Trust by 28.3% during the second quarter. Moors & Cabot Inc. now owns 464,502 shares of the mining company's stock worth $8,003,000 after buying an additional 102,520 shares in the last quarter. Beddow Capital Management Inc. grew its position in Mesabi Trust by 0.7% during the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company's stock valued at $7,966,000 after buying an additional 3,028 shares during the period. Mad River Investors increased its holdings in Mesabi Trust by 2.0% in the second quarter. Mad River Investors now owns 291,646 shares of the mining company's stock valued at $5,025,000 after buying an additional 5,809 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Mesabi Trust in the third quarter worth about $159,000.
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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