Tree Island Steel (TSE:TSL) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Tree Island Steel Ltd. (TSE:TSL)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$2.89 and traded as low as C$2.58. Tree Island Steel shares last traded at C$2.58, with a volume of 10,399 shares trading hands.

Tree Island Steel Stock Down 6.9 %

The firm has a market capitalization of C$67.47 million, a price-to-earnings ratio of 51.60 and a beta of 0.96. The business’s 50-day moving average is C$2.74 and its two-hundred day moving average is C$2.89. The company has a debt-to-equity ratio of 21.10, a quick ratio of 1.75 and a current ratio of 5.39.

Tree Island Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, September 27th. This represents a $0.12 annualized dividend and a yield of 4.65%. Tree Island Steel’s dividend payout ratio (DPR) is currently 240.00%.

Tree Island Steel Company Profile

Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel wire products in Canada, the United States, and internationally. It offers low-carbon and high-carbon galvanized steel wires; clean and bright wire for industrial and original equipment manufacturer customers; agricultural products, including fencing, barbed wire, galvanized wire, and bright wire, as well as other fabricated wire products specifically for farming, ranching, and vineyards; welded wire concrete reinforcing mesh and other fabricated wire products for heavy construction industry and infrastructure projects; and nails and stucco reinforcing products for residential and light commercial construction.