Meridian Wealth Management LLC Makes New $272,000 Investment in Icahn Enterprises L.P. (NASDAQ:IEP)

Meridian Wealth Management LLC purchased a new stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 20,145 shares of the conglomerate’s stock, valued at approximately $272,000.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in Icahn Enterprises during the third quarter valued at about $164,000. Griffin Asset Management Inc. boosted its position in shares of Icahn Enterprises by 10.3% during the 2nd quarter. Griffin Asset Management Inc. now owns 37,083 shares of the conglomerate’s stock valued at $611,000 after purchasing an additional 3,473 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Icahn Enterprises by 6.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 109,724 shares of the conglomerate’s stock worth $1,808,000 after purchasing an additional 6,276 shares during the last quarter. KPP Advisory Services LLC bought a new stake in shares of Icahn Enterprises in the 2nd quarter worth approximately $187,000. Finally, Western Wealth Management LLC lifted its stake in Icahn Enterprises by 10.5% during the second quarter. Western Wealth Management LLC now owns 38,514 shares of the conglomerate’s stock valued at $635,000 after purchasing an additional 3,650 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors and hedge funds.

Icahn Enterprises Trading Down 1.4 %

Shares of NASDAQ:IEP opened at $11.18 on Tuesday. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -10.26 and a beta of 0.78. Icahn Enterprises L.P. has a 1-year low of $9.72 and a 1-year high of $22.59. The company has a 50 day moving average price of $13.35 and a 200 day moving average price of $15.05. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61.

Icahn Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 17.89%. The ex-dividend date of this dividend is Monday, November 18th. Icahn Enterprises’s payout ratio is -183.49%.

About Icahn Enterprises

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.