Raymond James & Associates Reduces Stock Holdings in Icahn Enterprises L.P. (NASDAQ:IEP)

Raymond James & Associates cut its position in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 45.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,587 shares of the conglomerate’s stock after selling 13,012 shares during the quarter. Raymond James & Associates’ holdings in Icahn Enterprises were worth $268,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Fishman Jay A Ltd. MI boosted its position in shares of Icahn Enterprises by 14.1% during the 3rd quarter. Fishman Jay A Ltd. MI now owns 150,768 shares of the conglomerate’s stock worth $2,982,000 after acquiring an additional 18,661 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Icahn Enterprises by 1.8% in the third quarter. Commonwealth Equity Services LLC now owns 82,455 shares of the conglomerate’s stock valued at $1,631,000 after purchasing an additional 1,440 shares in the last quarter. Fort Point Capital Partners LLC increased its stake in Icahn Enterprises by 319.4% in the third quarter. Fort Point Capital Partners LLC now owns 80,100 shares of the conglomerate’s stock valued at $1,584,000 after purchasing an additional 61,000 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Icahn Enterprises during the third quarter worth approximately $1,302,000. Finally, MKT Advisors LLC purchased a new stake in shares of Icahn Enterprises during the 4th quarter worth approximately $1,064,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.

Icahn Enterprises Trading Up 1.7 %

NASDAQ:IEP opened at $17.55 on Tuesday. The company has a market capitalization of $7.53 billion, a PE ratio of -9.70 and a beta of 0.84. Icahn Enterprises L.P. has a 52-week low of $15.00 and a 52-week high of $51.34. The stock’s 50 day moving average price is $17.85 and its 200 day moving average price is $17.76. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 1.19.

Icahn Enterprises (NASDAQ:IEP) last announced its earnings results on Wednesday, February 28th. The conglomerate reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.54). The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Icahn Enterprises had a negative return on equity of 9.60% and a negative net margin of 6.21%. On average, research analysts anticipate that Icahn Enterprises L.P. will post 0.93 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Monday, March 11th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 22.79%. The ex-dividend date was Friday, March 8th. Icahn Enterprises’s payout ratio is currently -220.99%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th.

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.