Diamond Hill Capital Management Inc. Grows Stock Position in FTAI Infrastructure Inc. (NASDAQ:FIP)

Key Points

• Diamond Hill Capital Management Inc. increased its stake in FTAI Infrastructure by 30.8%, purchasing an additional 251,849 shares for a total of approximately $4.8 million in value.
• FTAI Infrastructure shares are currently trading at $6.58, reflecting a 1.9% decrease, with a 52-week range between $3.10 and $10.45.
• The company announced a quarterly dividend of $0.03, yielding 1.82%, while its dividend payout ratio stands at -9.09%.

Diamond Hill Capital Management Inc. grew its holdings in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 30.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,759 shares of the company's stock after acquiring an additional 251,849 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.93% of FTAI Infrastructure worth $4,846,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of FTAI Infrastructure by 7.0% in the fourth quarter. Northern Trust Corp now owns 913,981 shares of the company's stock valued at $6,636,000 after buying an additional 59,674 shares during the last quarter. Bank of America Corp DE lifted its holdings in FTAI Infrastructure by 25.5% during the 4th quarter. Bank of America Corp DE now owns 676,954 shares of the company's stock worth $4,915,000 after purchasing an additional 137,405 shares during the last quarter. Ameriprise Financial Inc. increased its stake in FTAI Infrastructure by 767.5% during the 4th quarter. Ameriprise Financial Inc. now owns 245,192 shares of the company's stock worth $1,780,000 after acquiring an additional 216,927 shares during the period. Two Sigma Advisers LP increased its stake in FTAI Infrastructure by 37.8% during the 4th quarter. Two Sigma Advisers LP now owns 189,500 shares of the company's stock worth $1,376,000 after acquiring an additional 52,000 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in FTAI Infrastructure by 6.6% during the 4th quarter. JPMorgan Chase & Co. now owns 552,459 shares of the company's stock worth $4,011,000 after acquiring an additional 34,165 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a "market outperform" rating and issued a $12.00 price target on shares of FTAI Infrastructure in a research note on Tuesday, April 22nd.

FTAI Infrastructure Trading Down 2.2%

Shares of NASDAQ:FIP traded down $0.15 during midday trading on Monday, reaching $6.44. The company's stock had a trading volume of 222,461 shares, compared to its average volume of 1,263,040. The firm has a market capitalization of $738.48 million, a price-to-earnings ratio of -4.87 and a beta of 1.89. The company has a debt-to-equity ratio of 7.90, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $6.23 and a two-hundred day moving average price of $5.67. FTAI Infrastructure Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $10.45.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $1.23. The business had revenue of $96.16 million for the quarter, compared to analyst estimates of $107.84 million. FTAI Infrastructure had a negative return on equity of 0.20% and a negative net margin of 16.69%.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were issued a $0.03 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.86%. FTAI Infrastructure's dividend payout ratio is presently -9.09%.

FTAI Infrastructure Profile

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.