Icahn Enterprises (NASDAQ:IEP) Trading Down 3.5%

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price was down 3.5% during trading on Thursday . The company traded as low as $12.96 and last traded at $12.98. Approximately 432,362 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 865,150 shares. The stock had previously closed at $13.45.

Icahn Enterprises Price Performance

The stock’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $16.33. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.85 and a quick ratio of 4.85. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of -11.25 and a beta of 0.77.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.91). Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business posted ($0.72) earnings per share. On average, equities research analysts anticipate that Icahn Enterprises L.P. will post -0.42 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, August 19th will be given a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a yield of 30.91%. Icahn Enterprises’s dividend payout ratio is -347.83%.

Institutional Trading of Icahn Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its position in Icahn Enterprises by 133.0% in the fourth quarter. Parallel Advisors LLC now owns 2,006 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 1,145 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 1,083 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of Icahn Enterprises by 35.1% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,579 shares of the conglomerate’s stock worth $147,000 after purchasing an additional 2,227 shares during the last quarter. Vima LLC acquired a new stake in shares of Icahn Enterprises during the 4th quarter worth about $167,000. Finally, HighPoint Advisor Group LLC acquired a new position in Icahn Enterprises in the fourth quarter valued at about $175,000. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.