Icahn Enterprises (NASDAQ:IEP) Stock Price Down 5.5% – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price fell 5.5% during trading on Tuesday . The stock traded as low as $11.37 and last traded at $11.42. 348,904 shares were traded during mid-day trading, a decline of 61% from the average session volume of 889,302 shares. The stock had previously closed at $12.09.

Icahn Enterprises Stock Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The company has a market capitalization of $5.55 billion, a PE ratio of -10.11 and a beta of 0.78. The firm’s fifty day simple moving average is $13.33 and its 200 day simple moving average is $15.16.

Icahn Enterprises Cuts Dividend

The company also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 18.15%. The ex-dividend date is Monday, November 18th. Icahn Enterprises’s payout ratio is currently -183.49%.

Institutional Trading of Icahn Enterprises

A number of hedge funds have recently bought and sold shares of the business. Planning Capital Management Corp purchased a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Icahn Enterprises by 61.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 1,083 shares during the period. Barclays PLC boosted its position in shares of Icahn Enterprises by 24.3% during the 3rd 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 period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $164,000. Finally, MML Investors Services LLC purchased a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $171,000. 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.