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

Icahn Enterprises L.P. (NASDAQ:IEP) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.69 and last traded at $9.78, with a volume of 1032411 shares. The stock had previously closed at $9.87.

Icahn Enterprises Trading Up 2.6 %

The firm has a 50-day moving average price of $12.25 and a 200-day moving average price of $14.20. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -8.74 and a beta of 0.75. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.99%. Icahn Enterprises’s dividend payout ratio is currently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

A number of institutional investors have recently bought and sold shares of IEP. Prime Capital Investment Advisors LLC raised its holdings in Icahn Enterprises by 6.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock valued at $192,000 after buying an additional 855 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Icahn Enterprises by 61.5% in 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 lifted its holdings in Icahn Enterprises by 24.3% in the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 1,427 shares during the last quarter. PSI Advisors LLC boosted its position in Icahn Enterprises by 4.8% during the third quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate’s stock worth $426,000 after purchasing an additional 1,455 shares during the period. Finally, United Advisor Group LLC boosted its position in Icahn Enterprises by 7.7% during the third 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 period. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.