Mesabi Trust (NYSE:MSB) Stock Price Passes Above 200 Day Moving Average - What's Next?

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.

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 $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.

Analyst Ratings Changes

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

Mesabi Trust Trading Down 0.4%

The stock has a fifty day moving average of $26.76 and a two-hundred day moving average of $26.59. The stock has a market capitalization of $415.58 million, a price-to-earnings ratio of 4.45 and a beta of 0.57.

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

Mesabi Trust Cuts Dividend

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

Institutional Investors Weigh In On Mesabi Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC increased its holdings in Mesabi Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the mining company's stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. NewEdge Advisors LLC boosted its position in Mesabi Trust by 57.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,612 shares of the mining company's stock valued at $39,000 after buying an additional 587 shares during the last quarter. Acadian Asset Management LLC bought a new position in Mesabi Trust in the 1st quarter valued at $44,000. MAI Capital Management boosted its position in Mesabi Trust by 14.6% in the 1st quarter. MAI Capital Management now owns 4,393 shares of the mining company's stock valued at $119,000 after buying an additional 561 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in Mesabi Trust in the 4th quarter valued at $205,000.

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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