Triumph Capital Management Buys 4,521 Shares of Icahn Enterprises L.P. (NASDAQ:IEP)

Triumph Capital Management lifted its stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 27.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,254 shares of the conglomerate’s stock after acquiring an additional 4,521 shares during the quarter. Triumph Capital Management’s holdings in Icahn Enterprises were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Icahn Carl C grew its stake in Icahn Enterprises by 4.1% in the fourth quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock valued at $3,908,333,000 after acquiring an additional 17,581,237 shares during the period. First Trust Advisors LP grew its stake in Icahn Enterprises by 26.2% in the fourth quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate’s stock valued at $5,723,000 after acquiring an additional 137,012 shares during the period. Raymond James Financial Inc. acquired a new stake in Icahn Enterprises in the fourth quarter valued at approximately $969,000. Virtu Financial LLC acquired a new stake in Icahn Enterprises in the fourth quarter valued at approximately $856,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Icahn Enterprises in the fourth quarter valued at approximately $447,000. 87.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Icahn Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday.

Icahn Enterprises Stock Performance

Shares of Icahn Enterprises stock opened at $9.75 on Monday. The business’s fifty day simple moving average is $8.86 and its 200 day simple moving average is $9.75. The firm has a market capitalization of $5.32 billion, a P/E ratio of -8.94 and a beta of 0.79. Icahn Enterprises L.P. has a 12 month low of $7.27 and a 12 month high of $17.93. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.98). The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.63 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. As a group, analysts anticipate that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, May 19th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.51%. Icahn Enterprises’s payout ratio is -121.21%.

Icahn Enterprises 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.