Meridian Wealth Management LLC Takes Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Meridian Wealth Management LLC acquired a new position in Icahn Enterprises L.P. (NASDAQ:IEP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,145 shares of the conglomerate’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IEP. Crew Capital Management Ltd. acquired a new stake in shares of Icahn Enterprises in the second quarter worth $628,000. Tempus Wealth Planning LLC purchased a new stake in Icahn Enterprises in the 3rd quarter worth about $418,000. B. Riley Wealth Advisors Inc. acquired a new stake in Icahn Enterprises during the 1st quarter worth about $296,000. Valeo Financial Advisors LLC purchased a new position in Icahn Enterprises during the 3rd quarter valued at about $203,000. Finally, Creative Planning increased its holdings in shares of Icahn Enterprises by 15.8% in the 2nd quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock valued at $1,786,000 after purchasing an additional 14,805 shares during the period. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Icahn Enterprises Stock Performance

IEP stock opened at $11.18 on Tuesday. The firm has a 50 day simple moving average of $13.35 and a 200 day simple moving average of $15.05. Icahn Enterprises L.P. has a 52 week low of $9.72 and a 52 week high of $22.59. The stock has a market cap of $5.63 billion, a P/E ratio of -10.26 and a beta of 0.78. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 17.89%. The ex-dividend date of this dividend is Monday, November 18th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -183.49%.

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.