Mesabi Trust (NYSE:MSB) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $29.53 and traded as high as $29.63. Mesabi Trust shares last traded at $29.63, with a volume of 432 shares traded.
The stock has a 50-day simple moving average of $29.53. The firm has a market cap of $387.57 million, a P/E ratio of 8.71 and a beta of 0.76.
A number of institutional investors and hedge funds have recently made changes to their positions in MSB. Morgan Stanley raised its stake in Mesabi Trust by 11.7% during the third quarter. Morgan Stanley now owns 112,126 shares of the mining company’s stock worth $2,972,000 after buying an additional 11,702 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in Mesabi Trust during the fourth quarter worth $497,000. Barclays PLC raised its stake in Mesabi Trust by 103.9% during the fourth quarter. Barclays PLC now owns 10,025 shares of the mining company’s stock worth $237,000 after buying an additional 5,109 shares during the last quarter. Valueworks LLC raised its stake in Mesabi Trust by 0.7% during the fourth quarter. Valueworks LLC now owns 172,517 shares of the mining company’s stock worth $4,087,000 after buying an additional 1,119 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in Mesabi Trust by 9.6% during the first quarter. Wedbush Securities Inc. now owns 12,370 shares of the mining company’s stock worth $362,000 after buying an additional 1,080 shares during the last quarter. Institutional investors own 17.93% of the company’s stock.
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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