Tree Island Steel (TSE:TSL) Reaches New 12-Month Low - Here's What Happened

Shares of Tree Island Steel Ltd. (TSE:TSL - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as C$2.37 and last traded at C$2.50, with a volume of 300 shares changing hands. The stock had previously closed at C$2.46.

Tree Island Steel Stock Performance

The company has a debt-to-equity ratio of 21.28, a quick ratio of 1.75 and a current ratio of 5.14. The company has a market cap of C$63.09 million, a PE ratio of -25.27 and a beta of 0.96. The business's 50-day moving average is C$2.54 and its 200 day moving average is C$2.79.

Tree Island Steel Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a $0.015 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.06 annualized dividend and a yield of 2.45%. Tree Island Steel's payout ratio is currently -123.77%.

About Tree Island Steel

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.