Tree Island Steel (TSE:TSL) Shares Pass Below 200-Day Moving Average - Should You Sell?

Tree Island Steel Ltd. (TSE:TSL - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.78 and traded as low as C$2.50. Tree Island Steel shares last traded at C$2.50, with a volume of 2,507 shares changing hands.

Tree Island Steel Stock Down 1.6%

The company has a current ratio of 5.14, a quick ratio of 1.75 and a debt-to-equity ratio of 21.28. The stock has a 50-day simple moving average of C$2.54 and a 200-day simple moving average of C$2.78. The company has a market cap of C$63.35 million, a price-to-earnings ratio of -25.37 and a beta of 0.96.

Tree Island Steel Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.015 per share. The ex-dividend date was Monday, March 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.44%. Tree Island Steel's dividend payout ratio (DPR) is -123.77%.

About Tree Island Steel

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.