GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Icahn Enterprises L.P. (NASDAQ:IEP – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 7,517 shares of the conglomerate’s stock, valued at approximately $218,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Icahn Enterprises by 140.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 300 shares during the period. Global Retirement Partners LLC purchased a new stake in Icahn Enterprises in the 1st quarter valued at approximately $29,000. Fortis Capital Advisors LLC purchased a new stake in Icahn Enterprises in the 4th quarter valued at approximately $58,000. Money Concepts Capital Corp purchased a new stake in Icahn Enterprises in the 4th quarter valued at approximately $58,000. Finally, Tower Research Capital LLC TRC lifted its stake in Icahn Enterprises by 75.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,437 shares of the conglomerate’s stock valued at $74,000 after buying an additional 618 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on IEP shares. Jefferies Financial Group reduced their target price on Icahn Enterprises from $43.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. StockNews.com started coverage on Icahn Enterprises in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.
Icahn Enterprises Trading Up 0.1 %
Shares of Icahn Enterprises stock traded up $0.01 during trading hours on Friday, reaching $17.27. 889,505 shares of the company’s stock were exchanged, compared to its average volume of 1,394,581. Icahn Enterprises L.P. has a 52-week low of $16.04 and a 52-week high of $54.48. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -7.78 and a beta of 0.94. The company has a fifty day moving average of $18.91 and a 200-day moving average of $24.52. The company has a current ratio of 5.34, a quick ratio of 5.34 and a debt-to-equity ratio of 1.07.
Icahn Enterprises Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 23.16%. The ex-dividend date of this dividend is Thursday, November 16th. Icahn Enterprises’s dividend payout ratio is presently -180.18%.
Icahn Enterprises Profile
Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. Its Investment segment invests its proprietary capital through various private investment funds. The company's Energy segment refines and markets transportation fuels; and produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia.
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