Oppenheimer & Co. Inc. Has $281,000 Stake in Freightcar America Inc. (RAIL)
Oppenheimer & Co. Inc. continued to hold its position in Freightcar America Inc. (NASDAQ:RAIL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company’s stock at the end of the second quarter. Oppenheimer & Co. Inc. owned approximately 0.16% of Freightcar America worth $281,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its stake in Freightcar America by 121.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 159,763 shares of the company’s stock worth $2,489,000 after buying an additional 87,594 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in Freightcar America by 1.6% in the second quarter. Alambic Investment Management L.P. now owns 61,387 shares of the company’s stock valued at $862,000 after buying an additional 976 shares during the period. Prudential Financial Inc. boosted its stake in Freightcar America by 229.4% in the first quarter. Prudential Financial Inc. now owns 77,590 shares of the company’s stock valued at $1,209,000 after buying an additional 54,038 shares during the period. Bank of Montreal Can acquired a new stake in Freightcar America during the second quarter valued at approximately $130,000. Finally, Chartwell Investment Partners LLC acquired a new stake in Freightcar America during the second quarter valued at approximately $2,056,000. Institutional investors and hedge funds own 76.34% of the company’s stock.
Freightcar America Inc. (NASDAQ:RAIL) traded up 1.61% on Thursday, reaching $13.90. The company’s stock had a trading volume of 40,260 shares. The company has a market capitalization of $172.18 million, a price-to-earnings ratio of 4.43 and a beta of 1.90. Freightcar America Inc. has a 1-year low of $12.56 and a 1-year high of $24.95. The firm’s 50 day moving average price is $14.20 and its 200-day moving average price is $14.73.
Freightcar America (NASDAQ:RAIL) last issued its earnings results on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.47. The firm had revenue of $126.20 million for the quarter, compared to the consensus estimate of $163.43 million. Freightcar America had a net margin of 5.38% and a return on equity of 10.87%. The company’s revenue for the quarter was down 46.4% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Equities analysts forecast that Freightcar America Inc. will post $0.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Thursday, August 18th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Tuesday, August 16th. Freightcar America’s dividend payout ratio (DPR) is presently 11.50%.
Several research firms recently commented on RAIL. Zacks Investment Research cut Freightcar America from a “hold” rating to a “strong sell” rating in a research report on Friday, August 5th. Stifel Nicolaus cut Freightcar America from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Cowen and Company began coverage on Freightcar America in a research report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.67.
In other news, VP Matthew S. Kohnke bought 7,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was acquired at an average cost of $14.07 per share, with a total value of $105,525.00. Following the transaction, the vice president now directly owns 2,100 shares in the company, valued at approximately $29,547. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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