Dynamic Technology Lab Private Ltd decreased its stake in Freightcar America Inc. (NASDAQ:RAIL) by 51.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,463 shares of the company’s stock after selling 16,311 shares during the period. Dynamic Technology Lab Private Ltd owned 0.12% of Freightcar America worth $217,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of RAIL. Jacobs Levy Equity Management Inc. boosted its position in Freightcar America by 121.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 159,763 shares of the company’s stock valued at $2,489,000 after buying an additional 87,594 shares in the last quarter. Alambic Investment Management L.P. boosted its position in Freightcar America by 1.6% in the second quarter. Alambic Investment Management L.P. now owns 61,387 shares of the company’s stock valued at $862,000 after buying an additional 976 shares in the last quarter. Prudential Financial Inc. boosted its position in Freightcar America by 229.4% in the first quarter. Prudential Financial Inc. now owns 77,590 shares of the company’s stock valued at $1,209,000 after buying an additional 54,038 shares in the last quarter. Bank of Montreal Can purchased a new position in Freightcar America during the second quarter valued at approximately $130,000. Finally, Chartwell Investment Partners LLC purchased a new position in Freightcar America during the second quarter valued at approximately $2,056,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Freightcar America Inc. (NASDAQ:RAIL) opened at 14.29 on Wednesday. The company has a market cap of $177.01 million, a PE ratio of 4.56 and a beta of 1.81. The company has a 50 day moving average of $14.17 and a 200-day moving average of $14.61. Freightcar America Inc. has a 12-month low of $12.56 and a 12-month high of $24.95.
Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.47. The business earned $126.20 million during the quarter, compared to analysts’ expectations of $163.43 million. Freightcar America had a return on equity of 10.87% and a net margin of 5.38%. Freightcar America’s revenue for the quarter was down 46.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. Equities research analysts anticipate that Freightcar America Inc. will post $0.60 earnings per share for the current year.
RAIL has been the topic of a number of research reports. Zacks Investment Research cut shares of Freightcar America from a “hold” rating to a “strong sell” rating in a report on Friday, August 5th. Stifel Nicolaus cut shares of Freightcar America from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Cowen and Company initiated coverage on shares of Freightcar America in a report on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.67.
In other Freightcar America news, VP Matthew S. Kohnke acquired 7,500 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average price of $14.07 per share, for a total transaction of $105,525.00. Following the completion of the acquisition, the vice president now owns 2,100 shares in the company, valued at $29,547. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.
About Freightcar America
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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