Diamond Hill Capital Management Inc. Acquires 251,849 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

Diamond Hill Capital Management Inc. grew its stake in shares of FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 30.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,069,759 shares of the company's stock after purchasing an additional 251,849 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.93% of FTAI Infrastructure worth $4,846,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FIP. Y Intercept Hong Kong Ltd bought a new stake in shares of FTAI Infrastructure during the 1st quarter valued at $127,000. Easterly Investment Partners LLC bought a new stake in shares of FTAI Infrastructure during the 1st quarter worth $333,000. Stephens Inc. AR lifted its position in shares of FTAI Infrastructure by 10.6% during the 1st quarter. Stephens Inc. AR now owns 33,450 shares of the company's stock worth $152,000 after buying an additional 3,200 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of FTAI Infrastructure during the 1st quarter worth $68,000. Finally, Inscription Capital LLC bought a new stake in shares of FTAI Infrastructure during the 1st quarter worth $732,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

FTAI Infrastructure Price Performance

FIP traded down $0.13 on Friday, reaching $6.58. The stock had a trading volume of 1,034,532 shares, compared to its average volume of 1,000,188. FTAI Infrastructure Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $10.45. The firm has a 50-day moving average of $6.23 and a 200-day moving average of $5.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 7.90. The company has a market capitalization of $755.12 million, a price-to-earnings ratio of -4.98 and a beta of 1.89.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $1.23. The company had revenue of $96.16 million during the quarter, compared to analysts' expectations 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 declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.12 annualized dividend and a dividend yield of 1.82%. FTAI Infrastructure's payout ratio is -9.09%.

About FTAI Infrastructure

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.