Tree Island Steel (TSE:TSL) Hits New 12-Month Low – What’s Next?

Shares of Tree Island Steel Ltd. (TSE:TSL) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$2.45 and last traded at C$2.45, with a volume of 860 shares changing hands. The stock had previously closed at C$2.50.

Tree Island Steel Stock Up 2.4 %

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 business’s fifty day moving average price is C$2.70 and its 200 day moving average price is C$2.86. The company has a market capitalization of C$64.90 million, a P/E ratio of -25.99 and a beta of 0.96.

Tree Island Steel Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were issued a $0.015 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 2.38%. Tree Island Steel’s payout ratio is presently -123.77%.

Tree Island Steel Company Profile

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.