Tree Island Steel (TSE:TSL) Reaches New 52-Week Low – Should You Sell?

Tree Island Steel Ltd. (TSE:TSL) shares hit a new 52-week low during trading on Wednesday . The company traded as low as C$2.45 and last traded at C$2.45, with a volume of 860 shares trading hands. The stock had previously closed at C$2.50.

Tree Island Steel Price Performance

The company has a market capitalization of C$64.90 million, a price-to-earnings ratio of -25.99 and a beta of 0.96. The company has a current ratio of 5.14, a quick ratio of 1.75 and a debt-to-equity ratio of 21.28. The company has a 50 day moving average price of C$2.70 and a 200 day moving average price of C$2.86.

Tree Island Steel Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.015 per share. The ex-dividend date was Monday, March 31st. This represents a $0.06 dividend on an annualized basis and a yield of 2.38%. Tree Island Steel’s payout ratio is presently -123.77%.

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.