Moors & Cabot Inc. Grows Stock Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Moors & Cabot Inc. boosted its holdings in Icahn Enterprises L.P. (NASDAQ:IEP) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,355 shares of the conglomerate’s stock after buying an additional 3,642 shares during the period. Moors & Cabot Inc.’s holdings in Icahn Enterprises were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IEP. Prime Capital Investment Advisors LLC raised its position in shares of Icahn Enterprises by 6.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after buying an additional 855 shares during the period. Meridian Wealth Management LLC raised its holdings in shares of Icahn Enterprises by 5.1% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock worth $184,000 after purchasing an additional 1,026 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Icahn Enterprises by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 1,089 shares in the last quarter. Barclays PLC grew its holdings in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Icahn Enterprises in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.

Icahn Enterprises Trading Up 7.1 %

Shares of IEP opened at $9.50 on Friday. Icahn Enterprises L.P. has a 12 month low of $8.53 and a 12 month high of $19.10. The stock’s 50-day moving average is $9.68 and its two-hundred day moving average is $11.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The stock has a market cap of $4.97 billion, a PE ratio of -8.72 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.27 billion. Equities analysts forecast that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.00 annualized dividend and a dividend yield of 21.05%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -210.53%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Sunday.

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.