Icahn Enterprises (NASDAQ:IEP) Sees Strong Trading Volume – Still a Buy?

Icahn Enterprises L.P. (NASDAQ:IEP) shares saw unusually-high trading volume on Tuesday . Approximately 2,062,329 shares were traded during trading, an increase of 121% from the previous session’s volume of 931,621 shares.The stock last traded at $8.64 and had previously closed at $8.87.

Icahn Enterprises Stock Performance

The firm has a fifty day moving average of $11.48 and a 200 day moving average of $13.81. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -7.97 and a beta of 0.75. 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 was paid on Thursday, December 26th. Investors of record on Monday, November 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 23.01%. The ex-dividend date of this dividend was Monday, November 18th. Icahn Enterprises’s dividend payout ratio is currently -183.49%.

Institutional Trading of Icahn Enterprises

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Icahn Enterprises by 3.1% in the third quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock valued at $5,518,000 after buying an additional 12,421 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Icahn Enterprises by 6.1% in the second 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 position in shares of Icahn Enterprises by 15.8% during the second quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock worth $1,786,000 after buying an additional 14,805 shares during the period. Griffin Asset Management Inc. lifted its stake in Icahn Enterprises by 7.8% during the 3rd quarter. Griffin Asset Management Inc. now owns 39,970 shares of the conglomerate’s stock worth $540,000 after acquiring an additional 2,887 shares in the last quarter. Finally, PSI Advisors LLC boosted its holdings in Icahn Enterprises by 4.8% during the 3rd quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate’s stock valued at $426,000 after acquiring an additional 1,455 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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.