Icahn Enterprises (NASDAQ:IEP) Sees Strong Trading Volume - What's Next?

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) shares saw an uptick in trading volume on Tuesday . Approximately 717,803 shares changed hands during trading, a decline of 16% from the previous session's volume of 856,761 shares.The stock last traded at $13.81 and had previously closed at $15.49.

Icahn Enterprises Stock Performance

The firm's 50 day moving average is $13.54 and its 200-day moving average is $15.72. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -11.10 and a beta of 0.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.85 and a current ratio of 4.85.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.91). Icahn Enterprises had a negative return on equity of 8.62% and a negative net margin of 4.97%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company posted ($0.72) EPS. Analysts forecast that Icahn Enterprises L.P. will post -0.42 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 31.32%. The ex-dividend date was Monday, August 19th. Icahn Enterprises's dividend payout ratio (DPR) is presently -347.83%.

Hedge Funds Weigh In On Icahn Enterprises

A number of large investors have recently added to or reduced their stakes in IEP. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Icahn Enterprises during the third quarter valued at approximately $164,000. PSI Advisors LLC lifted its holdings in Icahn Enterprises by 4.8% in the 3rd quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate's stock valued at $426,000 after purchasing an additional 1,455 shares in the last quarter. Tempus Wealth Planning LLC acquired a new stake in Icahn Enterprises during the 3rd quarter worth $418,000. Griffin Asset Management Inc. grew its holdings in shares of Icahn Enterprises by 7.8% during the third quarter. Griffin Asset Management Inc. now owns 39,970 shares of the conglomerate's stock worth $540,000 after buying an additional 2,887 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Icahn Enterprises in the third quarter valued at about $203,000. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.