Morgan Dempsey Capital Management LLC Reduces Stake in Freightcar America, Inc. (RAIL)
Morgan Dempsey Capital Management LLC cut its position in Freightcar America, Inc. (NASDAQ:RAIL) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,755 shares of the transportation company’s stock after selling 1,160 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Freightcar America were worth $465,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in RAIL. Nine Chapters Capital Management LLC purchased a new stake in Freightcar America during the first quarter worth $585,000. TFS Capital LLC purchased a new stake in Freightcar America during the first quarter worth $418,000. Ameriprise Financial Inc. purchased a new stake in Freightcar America during the first quarter worth $155,000. Bank of New York Mellon Corp boosted its stake in Freightcar America by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 216,085 shares of the transportation company’s stock worth $2,707,000 after buying an additional 14,262 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in Freightcar America by 0.8% in the first quarter. Eqis Capital Management Inc. now owns 13,444 shares of the transportation company’s stock worth $168,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
Freightcar America, Inc. (RAIL) opened at 18.44 on Thursday. Freightcar America, Inc. has a 52 week low of $10.87 and a 52 week high of $19.66. The firm’s 50 day moving average price is $17.16 and its 200-day moving average price is $15.23. The stock has a market cap of $226.50 million, a price-to-earnings ratio of 709.23 and a beta of 1.60.
Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings data on Wednesday, August 2nd. The transportation company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. The firm had revenue of $118.67 million for the quarter, compared to analysts’ expectations of $108.43 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. Analysts expect that Freightcar America, Inc. will post ($0.21) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Thursday, August 17th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.95%. The ex-dividend date is Tuesday, August 15th. Freightcar America’s payout ratio is 1,800.00%.
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A number of research firms recently weighed in on RAIL. Zacks Investment Research cut Freightcar America from a “hold” rating to a “sell” rating in a report on Wednesday. Cowen and Company restated a “hold” rating and issued a $15.00 price target on shares of Freightcar America in a report on Tuesday, July 11th. ValuEngine upgraded Freightcar America from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Buckingham Research assumed coverage on Freightcar America in a report on Wednesday, June 21st. They set a “neutral” rating and a $17.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.00.
In other news, insider Theodore W. Baun sold 4,481 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $17.25, for a total transaction of $77,297.25. Following the transaction, the insider now directly owns 14,502 shares in the company, valued at approximately $250,159.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.13% of the company’s stock.
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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