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

Icahn Enterprises L.P. (NASDAQ:IEP) saw an uptick in trading volume on Thursday . 281,407 shares were traded during trading, a decline of 68% from the previous session’s volume of 867,172 shares.The stock last traded at $9.42 and had previously closed at $9.11.

Icahn Enterprises Trading Down 0.7 %

The company’s 50-day moving average is $10.22 and its 200 day moving average is $13.15. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -8.61 and a beta of 0.80. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Monday, November 18th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 21.32%. The ex-dividend date of this dividend was Monday, November 18th. Icahn Enterprises’s payout ratio is -183.48%.

Institutional Investors Weigh In On Icahn Enterprises

Large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Icahn Enterprises in the 3rd quarter valued at approximately $30,000. Planning Capital Management Corp purchased a new position in Icahn Enterprises during the third quarter worth about $34,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 1,083 shares during the last quarter. Barclays PLC grew its stake in shares of Icahn Enterprises by 24.3% in the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after buying an additional 1,427 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Icahn Enterprises in the third quarter valued at approximately $164,000. 87.09% of the stock is currently owned by hedge funds and other 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.