Merit Financial Group LLC Makes New Investment in Icahn Enterprises L.P. (NASDAQ:IEP)

Merit Financial Group LLC acquired a new stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) during the fourth quarter, HoldingsChannel reports. The fund acquired 39,585 shares of the conglomerate’s stock, valued at approximately $343,000.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Icahn Enterprises in the third quarter valued at about $30,000. Barclays PLC raised its stake in Icahn Enterprises by 24.3% during 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 during the period. Geode Capital Management LLC boosted its stake in Icahn Enterprises by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock worth $5,518,000 after purchasing an additional 12,421 shares during the period. MML Investors Services LLC purchased a new stake in Icahn Enterprises during the 3rd quarter valued at approximately $171,000. Finally, National Bank of Canada FI raised its position in shares of Icahn Enterprises by 12.5% during the third quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate’s stock valued at $304,000 after buying an additional 2,500 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Price Performance

Shares of NASDAQ:IEP opened at $9.80 on Friday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -8.99 and a beta of 0.80. The firm has a fifty day moving average price of $9.92 and a 200 day moving average price of $12.91. Icahn Enterprises L.P. has a fifty-two week low of $8.53 and a fifty-two week high of $22.59. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Friday, November 8th. The conglomerate reported $0.05 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.16). Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company earned ($0.01) EPS. As a group, sell-side analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Monday, November 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 20.41%. The ex-dividend date was Monday, November 18th. Icahn Enterprises’s payout ratio is -183.48%.

Icahn Enterprises 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.