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

Mesabi Trust (NYSE:MSB) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.30 and traded as high as $27.64. Mesabi Trust shares last traded at $27.26, with a volume of 43,178 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Mesabi Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th.

Mesabi Trust Price Performance

The firm has a market capitalization of $351.62 million, a price-to-earnings ratio of 3.82 and a beta of 0.76. The firm has a 50 day moving average price of $27.16 and a 200-day moving average price of $26.35.

Mesabi Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were given a $5.95 dividend. The ex-dividend date was Thursday, January 30th. This represents a $23.80 dividend on an annualized basis and a yield of 88.81%. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.39. Mesabi Trust’s dividend payout ratio (DPR) is currently 339.51%.

Hedge Funds Weigh In On Mesabi Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Atlas Wealth Partners LLC acquired a new stake in Mesabi Trust in the fourth quarter valued at approximately $202,000. Heron Bay Capital Management purchased a new stake in shares of Mesabi Trust in the 4th quarter valued at approximately $204,000. Ameriprise Financial Inc. acquired a new stake in shares of Mesabi Trust in the 4th quarter valued at $205,000. Bank of Montreal Can purchased a new stake in shares of Mesabi Trust during the 4th quarter worth $208,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mesabi Trust during the fourth quarter worth $228,000.

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.