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Icahn Enterprises (NASDAQ:IEP) Sets New 52-Week Low - Here's Why

Icahn Enterprises logo with Multi-Sector Conglomerates background

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.69 and last traded at $9.78, with a volume of 1032411 shares traded. The stock had previously closed at $9.87.

Icahn Enterprises Stock Performance

The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34. The stock's 50-day moving average price is $12.42 and its 200 day moving average price is $14.26. The company has a market cap of $4.92 billion, a P/E ratio of -8.96 and a beta of 0.75.

Icahn Enterprises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 20.47%. The ex-dividend date is Monday, November 18th. Icahn Enterprises's dividend payout ratio is currently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Icahn Enterprises in the third quarter valued at about $30,000. Barclays PLC boosted its stake in Icahn Enterprises by 24.3% in the 3rd 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. Geode Capital Management LLC grew its position in Icahn Enterprises by 3.1% in the third quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate's stock valued at $5,518,000 after acquiring an additional 12,421 shares during the period. MML Investors Services LLC acquired a new position in Icahn Enterprises during the third quarter worth $171,000. Finally, National Bank of Canada FI lifted its holdings in shares of Icahn Enterprises by 12.5% during the third quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate's stock valued at $304,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 87.09% of the company's stock.

About Icahn Enterprises

(Get Free Report)

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.

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