International Assets Investment Management LLC Cuts Stake in Icahn Enterprises L.P. $IEP

International Assets Investment Management LLC reduced its stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 78.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,887 shares of the conglomerate’s stock after selling 128,213 shares during the period. International Assets Investment Management LLC’s holdings in Icahn Enterprises were worth $271,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Azzad Asset Management Inc. ADV purchased a new position in shares of Icahn Enterprises in the third quarter valued at $88,000. Caz Investments LP grew its holdings in shares of Icahn Enterprises by 12.5% in the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock valued at $91,000 after purchasing an additional 1,254 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Icahn Enterprises by 12.7% in the fourth quarter. Merit Financial Group LLC now owns 13,021 shares of the conglomerate’s stock valued at $98,000 after purchasing an additional 1,464 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Icahn Enterprises in the third quarter valued at $136,000. Finally, Claro Advisors LLC grew its holdings in shares of Icahn Enterprises by 61.7% in the third quarter. Claro Advisors LLC now owns 17,030 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 6,500 shares in the last quarter. 87.09% of the stock is owned by hedge funds and other institutional investors.

Icahn Enterprises Stock Up 0.2%

NASDAQ IEP opened at $8.12 on Wednesday. The company has a quick ratio of 4.17, a current ratio of 2.67 and a debt-to-equity ratio of 2.72. The company has a fifty day moving average of $7.84 and a two-hundred day moving average of $7.91. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of -15.62 and a beta of 0.83. Icahn Enterprises L.P. has a 52 week low of $7.08 and a 52 week high of $9.99.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Wednesday, May 6th. The conglomerate reported ($0.71) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.81). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Icahn Enterprises had a negative return on equity of 10.27% and a negative net margin of 3.24%.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 24.6%. The ex-dividend date of this dividend is Monday, May 18th. Icahn Enterprises’s payout ratio is presently -384.62%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Icahn Enterprises in a report on Friday, April 10th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Icahn Enterprises Profile

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.