Icahn Enterprises (NASDAQ:IEP) Sets New 52-Week Low – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP) hit a new 52-week low during trading on Monday . The stock traded as low as $8.83 and last traded at $8.84, with a volume of 393516 shares. The stock had previously closed at $8.94.

Icahn Enterprises Price Performance

The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -8.13 and a beta of 0.75. The stock’s 50-day simple moving average is $11.60 and its two-hundred day simple moving average is $13.86.

Icahn Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Monday, November 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 22.57%. The ex-dividend date of this dividend was Monday, November 18th. Icahn Enterprises’s dividend payout ratio is presently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

Several institutional investors have recently bought and sold shares of IEP. Prime Capital Investment Advisors LLC grew its holdings in shares of Icahn Enterprises by 6.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after buying an additional 855 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Icahn Enterprises by 61.5% during the 2nd 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 in the last quarter. Barclays PLC raised its holdings in Icahn Enterprises by 24.3% in the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after acquiring an additional 1,427 shares during the last quarter. PSI Advisors LLC lifted its stake in Icahn Enterprises by 4.8% in the 3rd quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate’s stock worth $426,000 after purchasing an additional 1,455 shares in the last quarter. Finally, United Advisor Group LLC boosted its holdings in shares of Icahn Enterprises by 7.7% during the 3rd quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock worth $391,000 after purchasing an additional 2,079 shares during the last quarter. 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.