Tree Island Steel (TSE:TSL) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Tree Island Steel Ltd. (TSE:TSL) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2.77 and traded as high as C$2.89. Tree Island Steel shares last traded at C$2.89, with a volume of 300 shares traded.

Tree Island Steel Trading Down 1.0 %

The company has a market capitalization of C$75.57 million, a P/E ratio of 57.80 and a beta of 0.96. The company has a 50-day simple moving average of C$2.77 and a 200 day simple moving average of C$2.88. The company has a debt-to-equity ratio of 21.10, a quick ratio of 1.75 and a current ratio of 5.39.

Tree Island Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.03 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.12 annualized dividend and a dividend yield of 4.15%. Tree Island Steel’s dividend payout ratio is currently 240.00%.

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.