Icahn Enterprises (NASDAQ:IEP) Reaches New 52-Week Low – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) hit a new 52-week low on Tuesday . The company traded as low as $9.13 and last traded at $9.19, with a volume of 1697989 shares trading hands. The stock had previously closed at $9.53.

Icahn Enterprises Price 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 firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -8.47 and a beta of 0.76. The company has a fifty day moving average price of $11.94 and a two-hundred day moving average price of $14.01.

Icahn Enterprises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 21.67%. The ex-dividend date is Monday, November 18th. Icahn Enterprises’s payout ratio is currently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in IEP. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises during the third quarter worth $30,000. Planning Capital Management Corp purchased a new position in Icahn Enterprises during the 3rd quarter worth $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 worth $47,000 after acquiring an additional 1,083 shares during the period. Barclays PLC boosted its holdings 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 acquiring an additional 1,427 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Icahn Enterprises during the third quarter worth about $164,000. 87.09% of the stock is owned by hedge funds and other institutional investors.

Icahn Enterprises Company 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.