Tree Island Steel (TSE:TSL) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.88 and traded as low as C$2.49. Tree Island Steel shares last traded at C$2.51, with a volume of 3,297 shares.

Tree Island Steel Price Performance

The stock has a market cap of C$64.38 million, a PE ratio of -25.79 and a beta of 0.96. The company has a quick ratio of 1.75, a current ratio of 5.14 and a debt-to-equity ratio of 21.28. The company's fifty day moving average is C$2.74 and its 200 day moving average is C$2.87.

Tree Island Steel Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, March 31st. Tree Island Steel's dividend payout ratio is presently -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.