Bank of New York Mellon Corp Lowers Stock Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Bank of New York Mellon Corp reduced its stake in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 568,098 shares of the company's stock after selling 184,480 shares during the quarter. Bank of New York Mellon Corp owned 0.50% of FTAI Infrastructure worth $4,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of FTAI Infrastructure in the third quarter valued at approximately $34,000. Cladis Investment Advisory LLC acquired a new position in FTAI Infrastructure during the third quarter worth $94,000. Castellan Group acquired a new position in FTAI Infrastructure during the fourth quarter worth $96,000. Wolverine Trading LLC acquired a new position in FTAI Infrastructure during the third quarter worth $170,000. Finally, Intech Investment Management LLC acquired a new position in FTAI Infrastructure during the third quarter worth $195,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

FTAI Infrastructure Price Performance

FIP stock traded down $0.02 during midday trading on Friday, hitting $5.30. 1,384,306 shares of the stock were exchanged, compared to its average volume of 1,176,046. The stock's 50-day moving average price is $6.27 and its 200-day moving average price is $7.76. The stock has a market cap of $603.89 million, a price-to-earnings ratio of -2.68 and a beta of 1.52. FTAI Infrastructure Inc. has a fifty-two week low of $4.73 and a fifty-two week high of $10.46. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42.

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FTAI Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 2.26%. FTAI Infrastructure's dividend payout ratio is presently -4.36%.

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.