Tree Island Steel (TSE:TSL) Share Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Tree Island Steel Ltd. shares fell below their 200-day moving average, trading as low as C$2.50, with the last traded price at C$2.52.
• The company announced a quarterly dividend of $0.015 per share, resulting in a 2.4% yield, although it has a notably high payout ratio of -123.77%.
• With a market capitalization of C$64.90 million, Tree Island Steel has a price-to-earnings ratio of -25.99 and a debt-to-equity ratio of 21.28.

Shares of Tree Island Steel Ltd. (TSE:TSL - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.62 and traded as low as C$2.50. Tree Island Steel shares last traded at C$2.52, with a volume of 5,405 shares changing hands.

Tree Island Steel Price Performance

The company's 50-day moving average is C$2.50 and its 200-day moving average is C$2.62. 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 firm has a market capitalization of C$65.41 million, a price-to-earnings ratio of -26.20 and a beta of 0.96.

Tree Island Steel Announces Dividend

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