Diamond Hill Capital Management Inc. Invests $5.94 Million in FTAI Infrastructure Inc. (NASDAQ:FIP)

Diamond Hill Capital Management Inc. acquired a new position in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 817,910 shares of the company's stock, valued at approximately $5,938,000. Diamond Hill Capital Management Inc. owned approximately 0.72% of FTAI Infrastructure at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FIP. FMR LLC raised its stake in shares of FTAI Infrastructure by 5,651.2% during the 3rd quarter. FMR LLC now owns 348,349 shares of the company's stock worth $3,261,000 after buying an additional 342,292 shares during the period. Barclays PLC raised its stake in shares of FTAI Infrastructure by 283.8% during the 3rd quarter. Barclays PLC now owns 159,387 shares of the company's stock worth $1,492,000 after buying an additional 117,863 shares during the period. Charles Schwab Investment Management Inc. raised its stake in FTAI Infrastructure by 198.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,363 shares of the company's stock valued at $7,941,000 after purchasing an additional 564,566 shares during the last quarter. Highland Peak Capital LLC raised its stake in FTAI Infrastructure by 194.3% in the 3rd quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company's stock valued at $16,430,000 after purchasing an additional 1,158,816 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in FTAI Infrastructure by 113.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 518,294 shares of the company's stock valued at $4,851,000 after purchasing an additional 275,903 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

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FTAI Infrastructure Price Performance

NASDAQ FIP traded up $0.24 during mid-day trading on Wednesday, hitting $5.36. The stock had a trading volume of 917,481 shares, compared to its average volume of 1,168,828. The firm's 50 day moving average is $6.45 and its 200 day moving average is $7.83. FTAI Infrastructure Inc. has a twelve month low of $4.73 and a twelve month high of $10.46. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $609.67 million, a price-to-earnings ratio of -2.71 and a beta of 1.52.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, March 14th. FTAI Infrastructure's payout ratio is currently -4.36%.

FTAI Infrastructure Company 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.