Granite Investment Partners LLC decreased its stake in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 34.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,274 shares of the transportation company’s stock after selling 34,081 shares during the quarter. Granite Investment Partners LLC owned about 0.53% of Freightcar America worth $1,277,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Eagle Global Advisors LLC purchased a new position in Freightcar America during the second quarter worth approximately $201,000. Alliancebernstein L.P. purchased a new position in Freightcar America during the second quarter worth approximately $212,000. Ameriprise Financial Inc. purchased a new position in Freightcar America during the first quarter worth approximately $155,000. Virtu KCG Holdings LLC purchased a new position in Freightcar America during the second quarter worth approximately $258,000. Finally, Rhumbline Advisers lifted its position in Freightcar America by 2.5% during the second quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after buying an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 84.42% of the company’s stock.
In other Freightcar America news, Director S Carl Soderstrom, Jr. sold 2,500 shares of Freightcar America stock in a transaction on Friday, November 17th. The stock was sold at an average price of $15.71, for a total value of $39,275.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director S Carl Soderstrom, Jr. sold 4,500 shares of Freightcar America stock in a transaction on Monday, November 13th. The shares were sold at an average price of $15.61, for a total value of $70,245.00. Following the completion of the sale, the director now owns 15,704 shares in the company, valued at approximately $245,139.44. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $179,090 in the last 90 days. Company insiders own 4.13% of the company’s stock.
Freightcar America, Inc. (NASDAQ:RAIL) traded down $0.06 during trading hours on Thursday, reaching $16.58. The company’s stock had a trading volume of 83,596 shares, compared to its average volume of 133,212. Freightcar America, Inc. has a 12 month low of $12.07 and a 12 month high of $20.46.
Freightcar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, November 1st. The transportation company reported ($0.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.63). Freightcar America had a negative net margin of 2.44% and a negative return on equity of 2.56%. The business had revenue of $72.00 million during the quarter, compared to analysts’ expectations of $87.20 million. The business’s quarterly revenue was down 36.6% compared to the same quarter last year. equities research analysts expect that Freightcar America, Inc. will post -0.98 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Freightcar America from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “hold” rating and set a $15.00 price objective on shares of Freightcar America in a research report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.25.
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Freightcar America Company Profile
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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