Insider Buying: Tree Island Steel Ltd. (TSE:TSL) Senior Officer Buys 5,000 Shares of Stock

Tree Island Steel Ltd. (TSE:TSL) Senior Officer Nancy Adriana Davies purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of C$2.92 per share, for a total transaction of C$14,580.00.

Tree Island Steel Trading Up 5.4 %

Tree Island Steel stock traded up C$0.15 during midday trading on Friday, hitting C$2.95. 3,300 shares of the stock were exchanged, compared to its average volume of 9,396. Tree Island Steel Ltd. has a fifty-two week low of C$2.48 and a fifty-two week high of C$3.70. The stock has a market capitalization of C$77.14 million, a price-to-earnings ratio of 59.00 and a beta of 0.96. The stock’s 50-day simple moving average is C$2.80 and its 200 day simple moving average is C$2.88. The company has a current ratio of 5.39, a quick ratio of 1.75 and a debt-to-equity ratio of 21.10.

Tree Island Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Friday, September 27th. Tree Island Steel’s payout ratio is currently 240.00%.

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.