Tree Island Steel (TSL) Reaches New 52-Week Low at $2.53

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Tree Island Steel Ltd. (TSE:TSL)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$2.53 and last traded at C$2.55, with a volume of 1500 shares. The stock had previously closed at C$2.60.

Separately, Raymond James lowered their target price on Tree Island Steel from C$4.00 to C$3.50 and set an “outperform” rating on the stock in a research report on Friday, August 3rd.

Tree Island Steel (TSE:TSL) last released its earnings results on Thursday, August 2nd. The company reported C$0.09 earnings per share for the quarter. The company had revenue of C$68.09 million for the quarter. Tree Island Steel had a negative return on equity of 13.03% and a negative net margin of 3.87%.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.08 annualized dividend and a yield of 3.20%.

About Tree Island Steel (TSE:TSL)

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 industrial products, such as pulp and unitizing, waste, chain link, upholstery, low carbon, and shaped wires, as well as bar/straight and cut bars; and wirelines for use in the oil industry.

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