Tree Island Steel (TSL) Stock Price Down 3.3%

Tree Island Steel Ltd. (TSE:TSL) shares were down 3.3% on Wednesday . The stock traded as low as C$2.74 and last traded at C$2.83. Approximately 23,390 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 31,759 shares. The stock had previously closed at C$2.74.

Several research analysts recently weighed in on TSL shares. Canaccord Genuity dropped their target price on shares of Tree Island Steel from C$3.75 to C$3.25 in a report on Friday, November 3rd. Pi Financial dropped their target price on shares of Tree Island Steel from C$5.00 to C$3.25 in a report on Friday, November 3rd. Finally, Raymond James Financial dropped their target price on shares of Tree Island Steel from C$4.00 to C$3.00 and set a “market perform” rating for the company in a report on Friday, November 3rd.

The firm has a market cap of $84.57, a price-to-earnings ratio of -275.00 and a beta of -0.40.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, December 28th. Tree Island Steel’s dividend payout ratio (DPR) is presently -800.00%.

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About Tree Island Steel

Tree Island Steel Ltd. manufactures and sells steel wire and wire products for industrial, construction, agricultural, and specialty applications in Canada, the United States, and internationally. It offers residential products, including bulk nails, collated nails, packaged nails and fasteners, bulk screws, and packaged nails and fasteners, as well as nail head identification systems; and woven wires, welded wires, and corners and accessories.

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