Tree Island Steel (TSE:TSL) Stock Passes Below 200-Day Moving Average - Here's Why

Key Points

• Tree Island Steel Ltd. shares fell below their 200-day moving average, closing at C$2.55, which is down from the average of C$2.57 during trading on Thursday.
• The company has reported a quarterly dividend of $0.015 per share, yielding 2.4%, with a negative payout ratio of -45.00%.
• Tree Island Steel operates in the manufacturing of steel wire and related products, with a current market capitalization of C$66.19 million.

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.57 and traded as low as C$2.55. Tree Island Steel shares last traded at C$2.55, with a volume of 6,130 shares.

Tree Island Steel Stock Performance

The company has a quick ratio of 1.75, a current ratio of 5.14 and a debt-to-equity ratio of 21.28. The stock has a market cap of C$66.45 million, a price-to-earnings ratio of -12.80 and a beta of 0.11. The company has a 50 day simple moving average of C$2.52 and a 200 day simple moving average of C$2.56.

Tree Island Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.06 annualized dividend and a yield of 2.3%. Tree Island Steel's payout ratio 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.