Tree Island Steel (TSE:TSL) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Tree Island Steel Ltd. (TSE:TSL) crossed 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 Price Performance

The stock has a market cap of C$75.57 million, a price-to-earnings 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 current ratio of 5.39, a quick ratio of 1.75 and a debt-to-equity ratio of 21.10.

Tree Island Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 4.15%. 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.