Icahn Enterprises (NASDAQ:IEP) Hits New 1-Year Low – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price hit a new 52-week low 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 Down 1.0 %

The company has a market cap of $4.92 billion, a price-to-earnings ratio of -8.96 and a beta of 0.75. 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’s fifty day moving average price is $12.42 and its two-hundred day moving average price is $14.26.

Icahn Enterprises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 20.47%. The ex-dividend date is Monday, November 18th. Icahn Enterprises’s dividend payout ratio is currently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

A number of hedge funds have recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC boosted its holdings in Icahn Enterprises by 6.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock valued at $192,000 after acquiring an additional 855 shares during the last quarter. PSI Advisors LLC boosted its stake in shares of Icahn Enterprises by 3.4% in the 2nd quarter. PSI Advisors LLC now owns 30,055 shares of the conglomerate’s stock valued at $495,000 after purchasing an additional 990 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 1,083 shares during the period. Barclays PLC raised its stake in shares of Icahn Enterprises by 24.3% during the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after buying an additional 1,427 shares during the last quarter. Finally, United Advisor Group LLC lifted its holdings in Icahn Enterprises by 7.7% in the third quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock valued at $391,000 after buying an additional 2,079 shares during the period. Institutional investors own 87.09% of the company’s stock.

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.