Icahn Enterprises (NASDAQ:IEP) Trading Down 3.5%

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) dropped 3.5% during trading on Thursday . The stock traded as low as $12.96 and last traded at $12.98. Approximately 432,362 shares changed hands 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 Trading Down 2.4 %

The company has a market cap of $5.92 billion, a price-to-earnings ratio of -11.70 and a beta of 0.77. The company’s 50 day moving average price is $15.15 and its 200 day moving average price is $16.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.85 and a current ratio of 4.85.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business earned ($0.72) EPS. Research analysts anticipate that Icahn Enterprises L.P. will post -0.42 EPS for the current year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 30.46%. Icahn Enterprises’s dividend payout ratio is currently -347.83%.

Institutional Trading of Icahn Enterprises

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Icahn Enterprises by 76.4% during the 1st quarter. BNP Paribas Financial Markets now owns 314,888 shares of the conglomerate’s stock valued at $5,356,000 after purchasing an additional 136,418 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Icahn Enterprises by 621.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,995 shares of the conglomerate’s stock worth $4,610,000 after acquiring an additional 233,410 shares in the last quarter. Commonwealth Equity Services LLC grew its position 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 valued at $1,808,000 after purchasing an additional 6,276 shares during the period. Creative Planning boosted its holdings in shares of Icahn Enterprises by 15.8% in the second quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock valued at $1,786,000 after buying an additional 14,805 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Icahn Enterprises by 24.3% in the 4th quarter. Advisory Services Network LLC now owns 49,464 shares of the conglomerate’s stock worth $850,000 after purchasing an additional 9,668 shares during the period. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.