Mesabi Trust (NYSE:MSB) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Mesabi Trust's stock recently crossed above its 200-day moving average, reaching a high of $32.70 before last trading at $31.19.
• The company reported quarterly earnings of $0.36 per share with a net margin of 96.44% and a market cap of $409.21 million.
• Despite recent upgrades from some analysts, Mesabi Trust's dividend payout ratio is low at 6.79% as the company recently declared a $0.12 dividend.

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 $27.72 and traded as high as $32.70. Mesabi Trust shares last traded at $31.19, with a volume of 25,540 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Mesabi Trust in a report on Saturday, September 27th. Wall Street Zen downgraded Mesabi Trust from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mesabi Trust presently has a consensus rating of "Buy".

Mesabi Trust Stock Down 4.3%

The company has a market capitalization of $409.21 million, a price-to-earnings ratio of 4.41 and a beta of 0.55. The business has a 50-day moving average price of $30.77 and a 200-day moving average price of $27.72.

Mesabi Trust (NYSE:MSB - Get Free Report) last issued its quarterly earnings results on Monday, September 15th. The mining company reported $0.36 earnings per share for the quarter. Mesabi Trust had a return on equity of 230.41% and a net margin of 96.44%.The firm had revenue of $5.61 million for the quarter.

Mesabi Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, July 30th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, July 30th. Mesabi Trust's dividend payout ratio is 6.79%.

Institutional Trading of Mesabi Trust

Several large investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in shares of Mesabi Trust by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company's stock worth $27,000 after buying an additional 500 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Mesabi Trust in the 4th quarter worth about $228,000. Exchange Traded Concepts LLC acquired a new stake in Mesabi Trust during the 1st quarter worth about $251,000. EagleClaw Capital Managment LLC grew its stake in Mesabi Trust by 13.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 165,225 shares of the mining company's stock valued at $4,494,000 after acquiring an additional 19,500 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Mesabi Trust in the 2nd quarter valued at about $818,000.

About Mesabi Trust

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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