Triumph Capital Management Acquires 10,261 Shares of Icahn Enterprises L.P. (NASDAQ:IEP)

Triumph Capital Management increased its holdings in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 29.8% during the fourth quarter, HoldingsChannel reports. The firm owned 44,707 shares of the conglomerate’s stock after buying an additional 10,261 shares during the period. Triumph Capital Management’s holdings in Icahn Enterprises were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in Icahn Enterprises by 467.1% during the fourth quarter. Global Retirement Partners LLC now owns 5,495 shares of the conglomerate’s stock valued at $98,000 after purchasing an additional 4,526 shares during the period. Citigroup Inc. increased its stake in shares of Icahn Enterprises by 45.7% in the third quarter. Citigroup Inc. now owns 8,835 shares of the conglomerate’s stock worth $175,000 after purchasing an additional 2,772 shares in the last quarter. Anfield Capital Management LLC bought a new stake in shares of Icahn Enterprises during the 4th quarter valued at $193,000. Integrated Advisors Network LLC purchased a new position in shares of Icahn Enterprises during the 3rd quarter valued at $198,000. Finally, Kingsview Wealth Management LLC boosted its holdings in Icahn Enterprises by 7.2% in the 3rd quarter. Kingsview Wealth Management LLC now owns 11,546 shares of the conglomerate’s stock worth $228,000 after buying an additional 777 shares during the period. 87.09% of the stock is owned by hedge funds and other institutional investors.

Icahn Enterprises Price Performance

IEP traded down $0.25 during trading on Wednesday, reaching $17.39. 479,508 shares of the company traded hands, compared to its average volume of 668,472. Icahn Enterprises L.P. has a 12-month low of $15.00 and a 12-month high of $48.15. The firm has a fifty day simple moving average of $17.77 and a 200 day simple moving average of $17.76. The company has a debt-to-equity ratio of 1.19, a quick ratio of 5.70 and a current ratio of 5.70. The company has a market cap of $7.46 billion, a P/E ratio of -9.75 and a beta of 0.84.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings results on Wednesday, February 28th. The conglomerate reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.54). The company had revenue of $2.68 billion during 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, equities analysts forecast that Icahn Enterprises L.P. will post 0.93 EPS for the current year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 11th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 23.00%. The ex-dividend date was Friday, March 8th. Icahn Enterprises’s payout ratio is -220.99%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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.