Boston Partners Sells 124,288 Shares of FreightCar America, Inc. (RAIL)
Boston Partners reduced its stake in FreightCar America, Inc. (NASDAQ:RAIL) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,028,462 shares of the transportation company’s stock after selling 124,288 shares during the period. Boston Partners owned approximately 0.08% of FreightCar America worth $6,335,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of FreightCar America by 39.8% during the fourth quarter. Rhumbline Advisers now owns 18,050 shares of the transportation company’s stock valued at $121,000 after purchasing an additional 5,141 shares in the last quarter. Millennium Management LLC bought a new position in shares of FreightCar America during the fourth quarter valued at $247,000. Marquette Asset Management LLC bought a new position in shares of FreightCar America during the fourth quarter valued at $260,000. Two Sigma Investments LP lifted its holdings in shares of FreightCar America by 103.3% during the fourth quarter. Two Sigma Investments LP now owns 53,594 shares of the transportation company’s stock valued at $359,000 after purchasing an additional 27,229 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of FreightCar America by 56.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 87,800 shares of the transportation company’s stock valued at $588,000 after purchasing an additional 31,840 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director William D. Gehl bought 10,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $6.45 per share, with a total value of $64,500.00. Following the completion of the acquisition, the director now owns 31,252 shares in the company, valued at $201,575.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Cirar bought 8,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $6.32 per share, for a total transaction of $50,560.00. The disclosure for this purchase can be found here. 6.65% of the stock is currently owned by corporate insiders.
FreightCar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, May 1st. The transportation company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.64). FreightCar America had a negative net margin of 15.85% and a negative return on equity of 14.67%. The firm had revenue of $70.71 million during the quarter, compared to the consensus estimate of $65.40 million. On average, equities analysts predict that FreightCar America, Inc. will post -1.35 earnings per share for the current year.
RAIL has been the topic of a number of research analyst reports. Zacks Investment Research raised FreightCar America from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Buckingham Research set a $7.00 price target on FreightCar America and gave the company a “hold” rating in a report on Friday, March 22nd. ValuEngine raised FreightCar America from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Stifel Nicolaus set a $8.00 price target on FreightCar America and gave the company a “hold” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.25.
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FreightCar America Company Profile
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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