Merit Financial Group LLC Takes $343,000 Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Merit Financial Group LLC acquired a new position in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 39,585 shares of the conglomerate's stock, valued at approximately $343,000.

A number of other large investors have also recently made changes to their positions in IEP. Wilmington Savings Fund Society FSB bought a new position in Icahn Enterprises in the third quarter worth about $30,000. Planning Capital Management Corp bought a new position in shares of Icahn Enterprises in the 3rd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Icahn Enterprises by 61.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate's stock valued at $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 third quarter. Barclays PLC now owns 7,307 shares of the conglomerate's stock valued at $100,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Icahn Enterprises in the third quarter worth $164,000. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Stock Down 0.5 %

IEP traded down $0.05 during trading on Friday, reaching $9.80. The stock had a trading volume of 511,084 shares, compared to its average volume of 1,168,735. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of -8.99 and a beta of 0.80. The stock's 50 day moving average is $9.92 and its two-hundred day moving average is $12.88. Icahn Enterprises L.P. has a one year low of $8.53 and a one year high of $22.59.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The conglomerate reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.16). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.32 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. During the same quarter in the previous year, the business earned ($0.01) earnings per share. As a group, analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Monday, November 18th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 20.41%. Icahn Enterprises's payout ratio is presently -183.48%.

Icahn Enterprises 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.