Tree Island Steel (TSE:TSL) Stock Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Tree Island Steel's stock price fell below its 200-day moving average of C$2.65, trading at C$2.46 with a volume of 5,850 shares.
• The company announced a quarterly dividend of $0.015 per share, which is a yield of 2.44%, though it has a negative payout ratio of -123.77%.
• Tree Island Steel Ltd. is involved in manufacturing steel wire and related products, with a market capitalization of C$63.35 million and a P/E ratio of -25.37.

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.65 and traded as low as C$2.46. Tree Island Steel shares last traded at C$2.46, with a volume of 5,850 shares traded.

Tree Island Steel Stock Up 1.2%

The stock has a market cap of C$64.38 million, a P/E ratio of -25.79 and a beta of 0.96. The company has a current ratio of 5.14, a quick ratio of 1.75 and a debt-to-equity ratio of 21.28. The firm's fifty day moving average is C$2.50 and its 200 day moving average is C$2.64.

Tree Island Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were issued a dividend of $0.015 per share. The ex-dividend date was Monday, June 30th. This represents a $0.06 annualized dividend and a dividend yield of 2.4%. Tree Island Steel's payout ratio is presently -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.