Freightcar America, Inc. (RAIL) Stake Lowered by Granite Investment Partners LLC
Granite Investment Partners LLC decreased its position in Freightcar America, Inc. (NASDAQ:RAIL) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,355 shares of the transportation company’s stock after selling 4,790 shares during the period. Granite Investment Partners LLC’s holdings in Freightcar America were worth $1,728,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in RAIL. Eqis Capital Management Inc. increased 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 during the period. Ironwood Investment Management LLC increased its stake in Freightcar America by 3.8% in the first quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock worth $147,000 after buying an additional 433 shares during the period. Malaga Cove Capital LLC increased its stake in Freightcar America by 3.0% in the second quarter. Malaga Cove Capital LLC now owns 23,676 shares of the transportation company’s stock worth $413,000 after buying an additional 700 shares during the period. Steelhead Partners LLC increased its stake in Freightcar America by 2.9% in the first quarter. Steelhead Partners LLC now owns 38,600 shares of the transportation company’s stock worth $484,000 after buying an additional 1,100 shares during the period. Finally, Geode Capital Management LLC increased its stake in Freightcar America by 3.7% in the first quarter. Geode Capital Management LLC now owns 98,883 shares of the transportation company’s stock worth $1,239,000 after buying an additional 3,520 shares during the period. Institutional investors own 76.09% of the company’s stock.
Shares of Freightcar America, Inc. (NASDAQ:RAIL) opened at 18.15 on Friday. The firm’s 50 day moving average is $17.26 and its 200-day moving average is $15.28. The company has a market capitalization of $225.57 million, a P/E ratio of 698.08 and a beta of 1.60. Freightcar America, Inc. has a 52-week low of $10.87 and a 52-week high of $19.66.
Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings results on Wednesday, August 2nd. The transportation company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $118.67 million for the quarter, compared to the consensus estimate of $108.43 million. Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Equities research analysts anticipate that Freightcar America, Inc. will post ($0.21) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Thursday, August 17th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.36 annualized dividend and a yield of 1.98%. Freightcar America’s dividend payout ratio (DPR) is 1,800.00%.
A number of research firms have commented on RAIL. Cowen and Company restated a “hold” rating and set a $15.00 price target on shares of Freightcar America in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Freightcar America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. ValuEngine upgraded shares of Freightcar America from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Buckingham Research began coverage on shares of Freightcar America in a research report on Wednesday, June 21st. They set a “neutral” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Freightcar America currently has a consensus rating of “Hold” and a consensus target price of $16.00.
In other Freightcar America news, insider Theodore W. Baun sold 4,481 shares of the company’s stock in a transaction dated 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 accessible through the SEC website. 4.13% of the stock is owned by corporate insiders.
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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