Tree Island Steel (TSE:TSL) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

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.

Tree Island Steel Stock Performance

The company has a 50-day moving average price of C$2.92 and a two-hundred day moving average price of C$2.87. The stock has a market capitalization of C$77.67 million, a P/E ratio of 59.40 and a beta of 0.96. The company has a quick ratio of 1.75, a current ratio of 5.39 and a debt-to-equity ratio of 21.10.

Tree Island Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 4.04%. 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.