Mesabi Trust (NYSE:MSB) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Mesabi Trust (NYSE:MSB)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.79 and traded as high as $27.31. Mesabi Trust shares last traded at $26.57, with a volume of 18,413 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Mesabi Trust from a “buy” rating to a “hold” rating in a research report on Monday, September 9th.

Mesabi Trust Price Performance

The business’s fifty day moving average price is $25.70 and its 200-day moving average price is $20.79. The stock has a market capitalization of $348.60 million, a PE ratio of 19.68 and a beta of 0.85.

Mesabi Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.87%. This is an increase from Mesabi Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, October 30th. Mesabi Trust’s dividend payout ratio (DPR) is presently 115.56%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC grew its position in Mesabi Trust by 1.4% during the third quarter. Horizon Kinetics Asset Management LLC now owns 2,659,623 shares of the mining company’s stock worth $60,240,000 after buying an additional 37,417 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Mesabi Trust by 7.2% during the third quarter. Moors & Cabot Inc. now owns 497,913 shares of the mining company’s stock worth $11,278,000 after purchasing an additional 33,411 shares in the last quarter. Beddow Capital Management Inc. increased its position in shares of Mesabi Trust by 0.7% in the second quarter. Beddow Capital Management Inc. now owns 462,315 shares of the mining company’s stock worth $7,966,000 after purchasing an additional 3,028 shares during the last quarter. Mad River Investors increased its position in shares of Mesabi Trust by 0.5% in the third quarter. Mad River Investors now owns 293,069 shares of the mining company’s stock worth $6,638,000 after purchasing an additional 1,423 shares during the last quarter. Finally, EagleClaw Capital Managment LLC raised its stake in Mesabi Trust by 27.9% in the third quarter. EagleClaw Capital Managment LLC now owns 146,400 shares of the mining company’s stock valued at $3,316,000 after purchasing an additional 31,900 shares in the last quarter.

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.