Tree Island Steel (TSE:TSL) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Tree Island Steel Ltd. (TSE:TSL) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$2.92 and traded as high as C$3.02. Tree Island Steel shares last traded at C$2.97, with a volume of 13,271 shares trading hands.

Tree Island Steel Stock Performance

The company has a debt-to-equity ratio of 21.10, a quick ratio of 1.75 and a current ratio of 5.39. The company has a market cap of C$75.84 million, a price-to-earnings ratio of 58.00 and a beta of 0.96. The firm’s 50-day moving average price is C$2.92 and its 200 day moving average price is C$2.87.

Tree Island Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Friday, September 27th. Tree Island Steel’s payout ratio is 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.