Freightcar America, Inc. $RAIL Stock Holdings Lessened by Continental General Insurance Co.

Continental General Insurance Co. reduced its position in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 21.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 979,256 shares of the transportation company’s stock after selling 268,720 shares during the quarter. Freightcar America comprises approximately 1.9% of Continental General Insurance Co.’s holdings, making the stock its 7th largest holding. Continental General Insurance Co. owned 0.05% of Freightcar America worth $9,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in Freightcar America by 208.6% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Freightcar America by 5.9% during the third quarter. Dimensional Fund Advisors LP now owns 109,714 shares of the transportation company’s stock valued at $1,073,000 after purchasing an additional 6,071 shares during the last quarter. Minerva Advisors LLC grew its stake in shares of Freightcar America by 18.1% in the 3rd quarter. Minerva Advisors LLC now owns 258,546 shares of the transportation company’s stock worth $2,529,000 after buying an additional 39,541 shares in the last quarter. Legato Capital Management LLC purchased a new position in shares of Freightcar America in the 3rd quarter worth $582,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Freightcar America in the 3rd quarter worth about $352,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RAIL shares. Wall Street Zen downgraded shares of Freightcar America from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.00.

Freightcar America Stock Down 4.6%

NASDAQ RAIL opened at $8.28 on Friday. Freightcar America, Inc. has a 52 week low of $4.31 and a 52 week high of $14.90. The firm has a market capitalization of $157.90 million, a price-to-earnings ratio of 7.46 and a beta of 1.75. The company has a fifty day moving average of $12.17 and a two-hundred day moving average of $10.20.

Freightcar America (NASDAQ:RAIL) last released its earnings results on Monday, March 9th. The transportation company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). Freightcar America had a negative return on equity of 15.54% and a net margin of 7.61%.The firm had revenue of $125.57 million during the quarter, compared to the consensus estimate of $144.95 million. Equities research analysts anticipate that Freightcar America, Inc. will post 0.09 EPS for the current year.

Freightcar America Company Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.