Mesabi Trust (NYSE:MSB) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Mesabi Trust's stock price has risen above its 200-day moving average, trading at $31.68 compared to the moving average of $26.59.
• The company recently announced a dividend of $0.12 per share, representing a yield of 187.0%, with a low dividend payout ratio of 6.74%.
• Wall Street analysts have downgraded Mesabi Trust from a "buy" rating to a "hold" rating, indicating a more cautious outlook on the stock.

Mesabi Trust (NYSE:MSB - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.59 and traded as high as $32.49. Mesabi Trust shares last traded at $31.68, with a volume of 47,572 shares changing hands.

Analysts Set New Price Targets

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

Mesabi Trust Trading Down 0.8%

The business has a 50-day moving average price of $27.23 and a two-hundred day moving average price of $26.78. The stock has a market capitalization of $421.55 million, a P/E ratio of 4.51 and a beta of 0.57.

Mesabi Trust (NYSE:MSB - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The mining company reported $0.28 EPS for the quarter. Mesabi Trust had a return on equity of 233.00% and a net margin of 96.23%.The company had revenue of $4.74 million during the quarter.

Mesabi Trust Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a dividend yield of 187.0%. Mesabi Trust's payout ratio is 6.74%.

Hedge Funds Weigh In On Mesabi Trust

A number of institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC increased its holdings in Mesabi Trust by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company's stock worth $27,000 after purchasing an additional 500 shares in the last quarter. MAI Capital Management increased its holdings in Mesabi Trust by 14.6% in the 1st quarter. MAI Capital Management now owns 4,393 shares of the mining company's stock worth $119,000 after purchasing an additional 561 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Mesabi Trust by 57.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company's stock worth $39,000 after purchasing an additional 587 shares in the last quarter. Atlas Wealth Partners LLC increased its holdings in Mesabi Trust by 11.5% in the 1st quarter. Atlas Wealth Partners LLC now owns 8,057 shares of the mining company's stock worth $217,000 after purchasing an additional 830 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Mesabi Trust by 5.5% in the 1st quarter. Apollon Wealth Management LLC now owns 16,015 shares of the mining company's stock worth $436,000 after purchasing an additional 831 shares in the last quarter.

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.