Tree Island Steel (TSE:TSL) Reaches New 1-Year Low - Here's What Happened

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) reached a new 52-week low on Monday . The company 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 Down 1.6%

The business's 50 day moving average price is C$2.54 and its 200-day moving average price is C$2.79. The company has a debt-to-equity ratio of 21.28, a current ratio of 5.14 and a quick ratio of 1.75. The company has a market cap of C$64.12 million, a P/E ratio of -25.68 and a beta of 0.96.

Tree Island Steel Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, March 31st. Tree Island Steel's dividend payout ratio (DPR) is currently -123.77%.

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.