Icahn Enterprises (NASDAQ:IEP) Reaches New 12-Month Low – Time to Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.13 and last traded at $9.19, with a volume of 1697989 shares trading hands. The stock had previously closed at $9.53.

Icahn Enterprises Stock Performance

The stock has a 50 day moving average of $11.94 and a two-hundred day moving average of $14.01. The stock has a market capitalization of $4.65 billion, a PE ratio of -8.47 and a beta of 0.76. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.67%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -183.49%.

Institutional Trading of Icahn Enterprises

Institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises during the 3rd quarter valued at approximately $30,000. Planning Capital Management Corp acquired a new stake in shares of Icahn Enterprises in the 3rd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 purchasing an additional 1,083 shares in the last quarter. Barclays PLC raised its holdings in 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 purchasing an additional 1,427 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Icahn Enterprises in the third quarter valued at $164,000. Hedge funds and other 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.