Mesabi Trust (NYSE:MSB) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Mesabi Trust's stock price surpassed its 200-day moving average during trading, reaching a high of $29.54 before closing at $29.37.
• The company recently had its rating downgraded from "buy" to "hold" by Wall Street Zen, signaling potential concerns regarding its performance.
• Mesabi Trust reported $0.36 earnings per share and a strong net margin of 96.44% in its latest quarterly earnings, although it also recently cut its dividend.

Mesabi Trust (NYSE:MSB - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.53 and traded as high as $29.54. Mesabi Trust shares last traded at $29.37, with a volume of 14,325 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Mesabi Trust from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th.

Mesabi Trust Stock Up 0.1%

The company's 50-day moving average is $30.49 and its two-hundred day moving average is $27.53. The company has a market capitalization of $385.28 million, a P/E ratio of 4.15 and a beta of 0.53.

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

Mesabi Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, July 30th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, July 30th. Mesabi Trust's dividend payout ratio (DPR) is presently 6.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC grew its position in Mesabi Trust by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company's stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. NewEdge Advisors LLC grew its position in Mesabi Trust by 57.3% during the second quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company's stock valued at $39,000 after acquiring an additional 587 shares during the last quarter. Acadian Asset Management LLC bought a new position in Mesabi Trust during the first quarter valued at approximately $44,000. MAI Capital Management grew its position in Mesabi Trust by 14.6% during the first quarter. MAI Capital Management now owns 4,393 shares of the mining company's stock valued at $119,000 after acquiring an additional 561 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in Mesabi Trust during the fourth quarter valued at approximately $205,000.

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.

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