Tree Island Steel (TSE:TSL) Sets New 12-Month Low – Here’s Why

Tree Island Steel Ltd. (TSE:TSL) shares reached a new 52-week low on Tuesday . The stock traded as low as C$2.43 and last traded at C$2.45, with a volume of 3600 shares trading hands. The stock had previously closed at C$2.48.

Tree Island Steel Stock Up 1.6%

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 has a market cap of C$64.90 million, a price-to-earnings ratio of -25.99 and a beta of 0.96. The firm’s 50-day simple moving average is C$2.57 and its two-hundred day simple moving average is C$2.82.

Tree Island Steel Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend 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 -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.