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

Key Points

• Tree Island Steel Ltd. shares crossed below their 200-day moving average of C$2.59, trading as low as C$2.52 and closing at C$2.53 with a volume of 23,200 shares.
• The company announced a quarterly dividend of $0.015 per share, which represents a 2.4% annualized dividend yield, despite a negative payout ratio of -123.77%.
• Tree Island Steel has a market cap of C$65.15 million, a P/E ratio of -26.09, and a favorable current ratio of 5.14, indicating strong liquidity.

Tree Island Steel Ltd. (TSE:TSL - )'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.59 and traded as low as C$2.52. Tree Island Steel shares last traded at C$2.53, with a volume of 23,200 shares changing hands.

Tree Island Steel Stock Up 0.4%

The business's 50 day moving average price is C$2.51 and its 200-day moving average price is C$2.59. 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$65.15 million, a P/E ratio of -26.09 and a beta of 0.96.

Tree Island Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were paid a $0.015 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.4%. Tree Island Steel's payout ratio is -123.77%.

About Tree Island Steel

Tree Island Steel Ltd operates in the steel business. It is engaged in the manufacturing and sale of steel wire and related products for a range of applications. It offers products such as bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products.

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