Carl Icahn Increases Position in Icahn Enterprises

Guru invests in more than 2.7 million shares

Author's Avatar
Apr 17, 2016
Article's Main Image

Carl Icahn (Trades, Portfolio), the leading guru shareholder and board chairman of Icahn Enterprises (IEP, Financial), increased his position in the conglomerate by more than 2% on April 14.

That may not sound like a sizable percentage, and it wouldn’t be for garden-variety investors, but 2% means a lot more when the stake is the size of Icahn’s. The guru acquired 2,771,575 shares, which is fewer than 1 million shares shy of the entire stake held by Icahn Enterprise’s second-leading shareholder among the gurus, Murray Stahl (Trades, Portfolio). Stahl’s stake is 3,507,276 shares.

Icahn paid $62.25 per share in the transaction. The purchase had an impact of 0.58% on his portfolio and brought Icahn’s holding to 120,490,760 shares. The stake is 93.44% of Icahn Enterprises’ outstanding shares and 25.21% of Icahn’s total assets.

Icahn has been steadily raising his holding since buying a 99.2 million-share stake in the second quarter of 2013.

Icahn Enterprises is based in New York. Its investments include auto parts, energy, metals, rail cars, casinos, food packaging, real estate and home fashion.

The conglomerate has a forward P/E of 11.75, a P/B of 2 and a P/S of 0.5. GuruFocus gives Icahn Enterprises a Financial Strength rating of 3/10 and a Profitability and Growth rating of 5/10.

02May2017171029.png

Icahn Enterprises sold for $61.32 per share Friday.

To view the gurus' latest stock picks, visit the Real Time Stock Picks page. Not a premium member of GuruFocus? Try it free for seven days.