Shares of Mesabi Trust (NYSE:MSB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.36 and traded as high as $23.96. Mesabi Trust shares last traded at $23.96, with a volume of 1,248 shares changing hands.

The firm has a fifty day moving average of $24.25 and a two-hundred day moving average of $28.36. The company has a market capitalization of $322.23 million, a PE ratio of 6.82 and a beta of 0.75.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, July 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stonebridge Capital Advisors LLC purchased a new stake in Mesabi Trust in the 2nd quarter worth approximately $30,000. AdvisorNet Financial Inc raised its holdings in shares of Mesabi Trust by 53.3% during the second quarter. AdvisorNet Financial Inc now owns 2,614 shares of the mining company’s stock valued at $77,000 after acquiring an additional 909 shares in the last quarter. Arlington Partners LLC bought a new position in shares of Mesabi Trust during the second quarter valued at approximately $173,000. Stephens Inc. AR purchased a new stake in Mesabi Trust in the second quarter worth $226,000. Finally, LPL Financial LLC purchased a new stake in Mesabi Trust in the second quarter worth $280,000. 16.95% of the stock is owned by institutional investors and hedge funds.

Mesabi Trust Company Profile (NYSE:MSB)

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.

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