Tree Island Steel Ltd. (TSE:TSL) traded down 2.9% on Tuesday . The company traded as low as C$2.67 and last traded at C$2.67. 6,800 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 31,478 shares. The stock had previously closed at C$2.75.

A number of equities research analysts have weighed in on the company. Raymond James Financial reduced their target price on Tree Island Steel from C$4.00 to C$3.00 and set a “market perform” rating on the stock in a report on Friday, November 3rd. Canaccord Genuity reduced their target price on Tree Island Steel from C$3.75 to C$3.25 in a report on Friday, November 3rd. Finally, Pi Financial reduced their target price on Tree Island Steel from C$5.00 to C$3.25 in a report on Friday, November 3rd.

The firm has a market cap of $80.68, a price-to-earnings ratio of -270.00 and a beta of -0.40.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors 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 2.96%. The ex-dividend date is Thursday, December 28th. Tree Island Steel’s dividend payout ratio (DPR) is -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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