Icahn Enterprises (NASDAQ:IEP) Sees Large Volume Increase – Should You Buy?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) saw unusually-high trading volume on Tuesday . Approximately 2,062,329 shares changed hands during mid-day 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 Price Performance

The business’s 50 day moving average is $11.21 and its two-hundred day moving average is $13.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The firm has a market capitalization of $4.37 billion, a PE ratio of -7.95 and a beta of 0.75.

Icahn Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Monday, November 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 23.07%. Icahn Enterprises’s payout ratio is -183.49%.

Hedge Funds Weigh In On Icahn Enterprises

A number of large investors have recently modified their holdings of the company. MML Investors Services LLC bought a new position in Icahn Enterprises in the 3rd quarter worth about $171,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Icahn Enterprises in the third quarter valued at approximately $164,000. Commonwealth Equity Services LLC raised its stake 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 in the last quarter. KPP Advisory Services LLC bought a new stake in Icahn Enterprises during the second quarter valued at approximately $187,000. Finally, Griffin Asset Management Inc. grew its stake in Icahn Enterprises by 7.8% in the 3rd quarter. Griffin Asset Management Inc. now owns 39,970 shares of the conglomerate’s stock worth $540,000 after buying an additional 2,887 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors.

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.