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

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) crossed 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.

Tree Island Steel Price Performance

The company has a market cap of C$64.38 million, a price-to-earnings ratio of -25.79 and a beta of 0.96. The company's 50-day simple moving average is C$2.53 and its 200-day simple moving average is C$2.78. The company has a debt-to-equity ratio of 21.28, a current ratio of 5.14 and a quick ratio of 1.75.

Tree Island Steel Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a $0.015 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.06 dividend on an annualized basis and a yield of 2.40%. Tree Island Steel's payout ratio is currently -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.