Icahn Enterprises (NASDAQ:IEP) Sees Large Volume Increase – Here’s Why

Icahn Enterprises L.P. (NASDAQ:IEP) shares saw unusually-high trading volume on Tuesday . Approximately 2,062,329 shares traded hands 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 Down 2.0 %

The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average is $11.48 and its 200 day moving average is $13.81. The stock has a market capitalization of $4.38 billion, a PE ratio of -7.97 and a beta of 0.75.

Icahn Enterprises Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 23.01%. The ex-dividend date was Monday, November 18th. Icahn Enterprises’s dividend payout ratio is currently -183.49%.

Institutional Trading of Icahn Enterprises

Several institutional investors have recently bought and sold shares of IEP. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises in the third quarter valued at about $30,000. Planning Capital Management Corp purchased a new position 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% in the second 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 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 valued at $100,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Icahn Enterprises during the third quarter worth $164,000. 87.09% of the stock is 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.