Mesabi Trust (NYSE:MSB - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.35 and traded as high as $27.60. Mesabi Trust shares last traded at $27.31, with a volume of 17,389 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised Mesabi Trust from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th.
Get Our Latest Research Report on Mesabi Trust
Mesabi Trust Trading Up 3.8 %
The stock has a 50-day moving average of $26.28 and a 200-day moving average of $21.43. The firm has a market cap of $372.08 million, a price-to-earnings ratio of 4.05 and a beta of 0.85.
Mesabi Trust (NYSE:MSB - Get Free Report) last announced its quarterly earnings results on Friday, December 13th. The mining company reported $5.97 earnings per share (EPS) for the quarter. Mesabi Trust had a net margin of 74.00% and a return on equity of 83.21%.
Mesabi Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, October 30th. This is an increase from Mesabi Trust's previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a dividend yield of 5.50%. Mesabi Trust's payout ratio is currently 22.25%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Quent Capital LLC acquired a new position in shares of Mesabi Trust during the 3rd quarter valued at $159,000. Apollon Wealth Management LLC acquired a new stake in Mesabi Trust during the 3rd quarter valued at $344,000. Pecaut & CO. raised its stake in Mesabi Trust by 22.6% during the 2nd quarter. Pecaut & CO. now owns 21,700 shares of the mining company's stock valued at $371,000 after purchasing an additional 4,000 shares during the period. EagleClaw Capital Managment LLC boosted its position in shares of Mesabi Trust by 27.9% in the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company's stock worth $3,316,000 after buying an additional 31,900 shares during the period. Finally, Mad River Investors boosted its position in shares of Mesabi Trust by 2.0% in the second quarter. Mad River Investors now owns 291,646 shares of the mining company's stock worth $5,025,000 after buying an additional 5,809 shares during the period.
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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