Griffin Asset Management Inc. Acquires 2,887 Shares of Icahn Enterprises L.P. (NASDAQ:IEP)

Griffin Asset Management Inc. increased its holdings in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 7.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,970 shares of the conglomerate’s stock after acquiring an additional 2,887 shares during the period. Griffin Asset Management Inc.’s holdings in Icahn Enterprises were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PSI Advisors LLC lifted its stake in Icahn Enterprises by 3.4% in the 2nd quarter. PSI Advisors LLC now owns 30,055 shares of the conglomerate’s stock worth $495,000 after purchasing an additional 990 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Icahn Enterprises by 61.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after buying an additional 1,083 shares in the last quarter. Stablepoint Partners LLC boosted its stake in Icahn Enterprises by 12.2% during the second quarter. Stablepoint Partners LLC now owns 25,000 shares of the conglomerate’s stock valued at $433,000 after buying an additional 2,719 shares during the last quarter. Western Wealth Management LLC grew its holdings in Icahn Enterprises by 10.5% during the 2nd quarter. Western Wealth Management LLC now owns 38,514 shares of the conglomerate’s stock valued at $635,000 after buying an additional 3,650 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Icahn Enterprises by 22.3% in the 1st quarter. International Assets Investment Management LLC now owns 23,798 shares of the conglomerate’s stock worth $404,000 after acquiring an additional 4,340 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.

Icahn Enterprises Stock Up 0.1 %

Shares of IEP opened at $14.50 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.85 and a quick ratio of 4.85. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -12.61 and a beta of 0.77. Icahn Enterprises L.P. has a 1 year low of $9.72 and a 1 year high of $22.59. The business’s 50 day simple moving average is $13.77 and its 200-day simple moving average is $15.85.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.91). Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company earned ($0.72) EPS. As a group, equities analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, August 19th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 27.59%. The ex-dividend date was Monday, August 19th. Icahn Enterprises’s payout ratio is -347.83%.

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.