Icahn Enterprises (NASDAQ:IEP) Sees Large Volume Increase

Icahn Enterprises L.P. (NASDAQ:IEP) shares saw unusually-high trading volume on Tuesday . Approximately 1,576,129 shares traded hands during mid-day trading, an increase of 86% from the previous session’s volume of 847,013 shares.The stock last traded at $13.04 and had previously closed at $12.37.

Icahn Enterprises Stock Up 9.0 %

The stock has a 50-day moving average price of $15.28 and a 200-day moving average price of $16.47. 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 company has a market capitalization of $6.08 billion, a P/E ratio of -11.63 and a beta of 0.77.

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

Icahn Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 29.67%. The ex-dividend date is Monday, August 19th. Icahn Enterprises’s dividend payout ratio is -347.83%.

Hedge Funds Weigh In On Icahn Enterprises

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management boosted its position in shares of Icahn Enterprises by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Icahn Enterprises by 133.0% during 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 during the period. Northwestern Mutual Wealth Management Co. raised its position 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 worth $47,000 after purchasing an additional 1,083 shares during the period. Newbridge Financial Services Group Inc. lifted 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 in the last quarter. Finally, Vima LLC acquired a new stake in Icahn Enterprises in the 4th quarter valued at $167,000. 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.