Hillsdale Investment Management Inc. Makes New Investment in Freightcar America, Inc. $RAIL

Hillsdale Investment Management Inc. purchased a new position in shares of Freightcar America, Inc. (NASDAQ:RAIL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,000 shares of the transportation company’s stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Freightcar America by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 631,029 shares of the transportation company’s stock valued at $6,171,000 after acquiring an additional 13,301 shares during the period. Essex Investment Management Co. LLC acquired a new position in Freightcar America in the third quarter valued at about $2,007,000. Diamond Hill Capital Management Inc. bought a new stake in Freightcar America during the third quarter worth about $501,000. Squarepoint Ops LLC lifted its position in Freightcar America by 24.6% during the second quarter. Squarepoint Ops LLC now owns 70,033 shares of the transportation company’s stock worth $604,000 after purchasing an additional 13,825 shares during the period. Finally, Marex Group plc acquired a new stake in Freightcar America during the second quarter worth about $172,000. 31.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RAIL has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen upgraded shares of Freightcar America from a “hold” rating to a “buy” rating in a research report on Sunday, December 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $9.00.

Freightcar America Trading Down 0.1%

Freightcar America stock opened at $14.33 on Wednesday. The company has a market capitalization of $273.42 million, a PE ratio of 5.43 and a beta of 1.77. Freightcar America, Inc. has a 12 month low of $4.31 and a 12 month high of $14.57. The stock has a 50-day moving average price of $11.75 and a two-hundred day moving average price of $9.89.

Freightcar America Company Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.