Tree Island Steel Ltd. (TSE:TSL) traded up 5.6% during trading on Friday . The stock traded as high as C$2.07 and last traded at C$2.25. 15,103 shares changed hands during trading, a decline of 51% from the average session volume of 30,652 shares. The stock had previously closed at C$2.13.

Several equities research analysts recently commented on the company. Raymond James Financial, Inc. dropped 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. Pi Financial dropped their price objective on Tree Island Steel from C$5.00 to C$3.25 in a report on Friday, November 3rd. Finally, Canaccord Genuity dropped their price objective on Tree Island Steel from C$3.75 to C$3.25 in a report on Friday, November 3rd.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, September 28th. Tree Island Steel’s payout ratio is currently -800.00%.

In other news, insider Island Steel Ltd. (Former Tree acquired 65,600 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were bought at an average price of C$3.10 per share, with a total value of C$203,360.00.

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Tree Island Steel Company Profile

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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