Tree Island Steel (TSE:TSL) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Tree Island Steel shares crossed above their fifty-day moving average of C$2.54, reaching a high of C$2.71 during trading with a current price of C$2.60.
• The company has a debt-to-equity ratio of 21.28 and a market capitalization of C$67.49 million, but its P/E ratio is currently -13.00.
• Tree Island Steel recently announced a quarterly dividend of $0.015 per share, translating to an annualized yield of 2.3%, with a dividend payout ratio of -45.00%.

Tree Island Steel Ltd. (TSE:TSL - ) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$2.54 and traded as high as C$2.71. Tree Island Steel shares last traded at C$2.60, with a volume of 12,401 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 firm has a market capitalization of C$67.49 million, a P/E ratio of -13.00 and a beta of 0.11. The company has a 50-day moving average price of C$2.54 and a 200-day moving average price of C$2.54.

Tree Island Steel Dividend Announcement

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

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