Icahn Enterprises (NASDAQ:IEP) Hits New 52-Week Low – Time to Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.13 and last traded at $9.19, with a volume of 1697989 shares changing hands. The stock had previously closed at $9.53.

Icahn Enterprises Stock Down 3.6 %

The firm has a market capitalization of $4.63 billion, a P/E ratio of -8.43 and a beta of 0.76. The firm’s 50 day moving average is $12.04 and its two-hundred day moving average is $14.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61.

Icahn Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Monday, November 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.76%. The ex-dividend date of this dividend is Monday, November 18th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of IEP. Wilmington Savings Fund Society FSB bought a new position in Icahn Enterprises during the third quarter worth about $30,000. Planning Capital Management Corp acquired a new stake in shares of Icahn Enterprises in the third quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Icahn Enterprises by 61.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after acquiring an additional 1,083 shares during the period. Barclays PLC increased its holdings in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after acquiring an additional 1,427 shares during the last quarter. Finally, KPP Advisory Services LLC bought a new stake in Icahn Enterprises in the 2nd quarter valued at $187,000. 87.09% of the stock is 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.