Tree Island Steel (TSE:TSL) Shares Pass Above 50 Day Moving Average - Should You Sell?

Key Points

• Tree Island Steel Ltd. shares crossed above their 50-day moving average of C$2.50, closing at that price with a trading volume of 2,500 shares.
• The company recently announced a quarterly dividend of $0.015, resulting in an annualized dividend yield of 2.4%, although its dividend payout ratio is currently negative at -123.77%.
• Tree Island Steel has a market capitalization of C$64.38 million and key financial metrics show a P/E ratio of -25.79 and a debt-to-equity ratio of 21.28.

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$2.50 and traded as high as C$2.50. Tree Island Steel shares last traded at C$2.50, with a volume of 2,500 shares traded.

Tree Island Steel Stock Performance

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 company has a market capitalization of C$64.90 million, a price-to-earnings ratio of -25.99 and a beta of 0.96. The business's 50-day moving average price is C$2.51 and its two-hundred day moving average price is C$2.59.

Tree Island Steel Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.4%. Tree Island Steel's payout ratio is currently -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.