Freightcar America Inc. (RAIL) Position Held by LSV Asset Management
LSV Asset Management maintained its stake in Freightcar America Inc. (NASDAQ:RAIL) during the second quarter, Holdings Channel reports. The firm owned 7,300 shares of the company’s stock at the end of the second quarter. LSV Asset Management owned 0.06% of Freightcar America worth $102,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of Freightcar America during the second quarter valued at about $130,000. BlackRock Group LTD boosted its position in Freightcar America by 27.6% in the first quarter. BlackRock Group LTD now owns 9,226 shares of the company’s stock valued at $143,000 after buying an additional 1,995 shares during the last quarter. Investors Capital Advisory Services bought a new position in Freightcar America during the second quarter valued at $171,000. Eqis Capital Management Inc. boosted its position 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 during the last quarter. Finally, Strs Ohio bought a new position in Freightcar America during the second quarter valued at $205,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Freightcar America Inc. (NASDAQ:RAIL) traded up 1.56% during mid-day trading on Wednesday, reaching $13.68. 75,558 shares of the company’s stock were exchanged. The company has a market capitalization of $169.45 million, a PE ratio of 4.36 and a beta of 1.90. The company’s 50-day moving average price is $14.21 and its 200-day moving average price is $14.74. Freightcar America Inc. has a one year low of $12.56 and a one year high of $24.95.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.47. Freightcar America had a net margin of 5.38% and a return on equity of 10.87%. The firm earned $126.20 million during the quarter, compared to the consensus estimate of $163.43 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was down 46.4% on a year-over-year basis. On average, equities analysts expect that Freightcar America Inc. will post $0.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Thursday, August 18th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Tuesday, August 16th. Freightcar America’s dividend payout ratio is currently 11.50%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Freightcar America from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Cowen and Company assumed coverage on shares of Freightcar America in a report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus cut shares of Freightcar America from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. 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 presently has an average rating of “Hold” and an average target price of $17.67.
In other news, VP Matthew S. Kohnke purchased 7,500 shares of the stock in a transaction dated Thursday, August 11th. The shares were acquired at an average cost of $14.07 per share, for a total transaction of $105,525.00. Following the acquisition, the vice president now owns 2,100 shares of the company’s stock, valued at $29,547. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.
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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