Bank of New York Mellon Corp reduced its stake in Freightcar America Inc. (NASDAQ:RAIL) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 164,819 shares of the company’s stock after selling 5,912 shares during the period. Bank of New York Mellon Corp owned 1.33% of Freightcar America worth $2,315,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Uniplan Investment Counsel Inc. boosted its stake in Freightcar America by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 195,743 shares of the company’s stock valued at $3,050,000 after buying an additional 659 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Freightcar America by 11.3% in the second quarter. Eqis Capital Management Inc. now owns 12,269 shares of the company’s stock valued at $172,000 after buying an additional 1,245 shares in the last quarter. Menta Capital LLC boosted its stake in Freightcar America by 32.5% in the first quarter. Menta Capital LLC now owns 15,070 shares of the company’s stock valued at $235,000 after buying an additional 3,700 shares in the last quarter. Springbank Value Partners LP boosted its stake in Freightcar America by 29.6% in the first quarter. Springbank Value Partners LP now owns 17,500 shares of the company’s stock valued at $273,000 after buying an additional 4,000 shares in the last quarter. Finally, Value Holdings LP boosted its stake in Freightcar America by 20.2% in the first quarter. Value Holdings LP now owns 41,600 shares of the company’s stock valued at $648,000 after buying an additional 7,000 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Freightcar America Inc. (NASDAQ:RAIL) traded up 3.50% on Wednesday, reaching $14.79. 94,360 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $14.17 and its 200-day moving average price is $14.61. Freightcar America Inc. has a 12 month low of $12.56 and a 12 month high of $24.95. The company has a market capitalization of $183.20 million, a P/E ratio of 4.72 and a beta of 1.81.
Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.47. The company had revenue of $126.20 million for the quarter, compared to analyst estimates of $163.43 million. Freightcar America had a return on equity of 10.87% and a net margin of 5.38%. Freightcar America’s quarterly revenue was down 46.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, equities analysts anticipate that Freightcar America Inc. will post $0.60 EPS for the current year.
Several research firms recently issued reports on RAIL. Zacks Investment Research raised shares of Freightcar America from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Cowen and Company began coverage on shares of Freightcar America in a research report on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 target price on the stock. Finally, Stifel Nicolaus cut shares of Freightcar America from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.67.
In related news, VP Matthew S. Kohnke acquired 7,500 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average price of $14.07 per share, for a total transaction of $105,525.00. Following the acquisition, the vice president now owns 2,100 shares in the company, valued at $29,547. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.
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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