Tree Island Steel (TSE:TSL) Share Price Passes Below 200-Day Moving Average - Here's Why

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 - Get Free Report)'s stock price passed 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 traded.

Tree Island Steel Price 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 stock's fifty day moving average price is C$2.51 and its 200-day moving average price is C$2.57. The firm has a market cap of C$66.97 million, a PE ratio of -12.90 and a beta of 0.14.

Tree Island Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were issued a $0.015 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.06 dividend on an annualized basis and a yield of 2.3%. Tree Island Steel's dividend payout ratio (DPR) is -45.00%.

Tree Island Steel Company Profile

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.