Tree Island Steel (TSE:TSL) Shares Pass Below 200 Day Moving Average - What's Next?

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.87 and traded as low as C$2.48. Tree Island Steel shares last traded at C$2.50, with a volume of 3,900 shares trading hands.

Tree Island Steel Stock Up 2.4 %

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 stock's 50 day simple moving average is C$2.70 and its 200 day simple moving average is C$2.86. The firm has a market cap of C$64.90 million, a P/E ratio of -25.99 and a beta of 0.96.

Tree Island Steel Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 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 2.38%. The ex-dividend date of this dividend was Monday, March 31st. Tree Island Steel's dividend payout ratio is currently -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.