Mutual Advisors LLC raised its stake in Icahn Enterprises L.P. (NASDAQ:IEP) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,021 shares of the conglomerate’s stock after purchasing an additional 615 shares during the quarter. Mutual Advisors LLC’s holdings in Icahn Enterprises were worth $2,311,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Lee Financial Co boosted its stake in shares of Icahn Enterprises by 7.2% during the 2nd quarter. Lee Financial Co now owns 3,103 shares of the conglomerate’s stock worth $171,000 after acquiring an additional 208 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Icahn Enterprises by 2.3% during the 1st quarter. JPMorgan Chase & Co. now owns 12,197 shares of the conglomerate’s stock worth $655,000 after acquiring an additional 272 shares during the period. Clearstead Advisors LLC boosted its stake in shares of Icahn Enterprises by 102.5% during the 1st quarter. Clearstead Advisors LLC now owns 741 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 375 shares during the period. Fifth Third Bancorp boosted its stake in shares of Icahn Enterprises by 28.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,979 shares of the conglomerate’s stock worth $109,000 after acquiring an additional 434 shares during the period. Finally, Texas Yale Capital Corp. boosted its stake in shares of Icahn Enterprises by 0.9% during the 1st quarter. Texas Yale Capital Corp. now owns 53,790 shares of the conglomerate’s stock worth $2,890,000 after acquiring an additional 470 shares during the period. Hedge funds and other institutional investors own 90.97% of the company’s stock.
In related news, Director A B. Krongard acquired 5,000 shares of the company’s stock in a transaction on Monday, September 20th. The stock was purchased at an average cost of $50.00 per share, with a total value of $250,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 90.10% of the company’s stock.
Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Friday, August 6th. The conglomerate reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.48). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.01 billion. Icahn Enterprises had a negative net margin of 6.12% and a negative return on equity of 5.63%. The business’s revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Icahn Enterprises L.P. will post 0.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Friday, August 20th will be paid a $2.00 dividend. The ex-dividend date is Thursday, August 19th. This represents a $8.00 annualized dividend and a yield of 16.00%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -109.14%.
Icahn Enterprises Profile
Icahn Enterprises LP operates as holding company. It operates through following business ten segments: Investment, Automotive, Energy, Railcar, Food Packaging, Metals, Real Estate, Home Fashion, Railcar and Mining. The Investment segment is comprises of various private investment funds. The Automotive segment holds ownership in Icahn Automotive Group LLC.
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