Icahn Enterprises (NASDAQ:IEP) Sees Unusually-High Trading Volume

Icahn Enterprises L.P. (NASDAQ:IEP) shares saw strong trading volume on Tuesday . 1,576,129 shares traded hands during trading, an increase of 86% from the previous session’s volume of 847,013 shares.The stock last traded at $13.04 and had previously closed at $12.37.

Icahn Enterprises Stock Performance

The stock has a market cap of $6.08 billion, a P/E ratio of -11.63 and a beta of 0.77. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 1.23. The stock has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $16.47.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.91). Icahn Enterprises had a negative return on equity of 8.62% and a negative net margin of 4.97%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted ($0.72) EPS. On average, equities analysts expect that Icahn Enterprises L.P. will post -0.42 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 29.67%. The ex-dividend date of this dividend is Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -347.83%.

Hedge Funds Weigh In On Icahn Enterprises

A number of institutional investors have recently modified their holdings of IEP. BNP Paribas Financial Markets grew its holdings in shares of Icahn Enterprises by 4,461,650.0% during the 4th quarter. BNP Paribas Financial Markets now owns 178,470 shares of the conglomerate’s stock valued at $3,068,000 after purchasing an additional 178,466 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Icahn Enterprises during the fourth quarter valued at about $375,000. PNC Financial Services Group Inc. raised its holdings in Icahn Enterprises by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,353 shares of the conglomerate’s stock valued at $264,000 after buying an additional 537 shares during the last quarter. Advisory Services Network LLC boosted its position in Icahn Enterprises by 24.3% during the 4th quarter. Advisory Services Network LLC now owns 49,464 shares of the conglomerate’s stock worth $850,000 after buying an additional 9,668 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Icahn Enterprises by 133.0% during the 4th quarter. Parallel Advisors LLC now owns 2,006 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 1,145 shares during the last quarter. Institutional investors and hedge funds 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.