State Street Corp Increases Position in FreightCar America, Inc. (NASDAQ:RAIL)

State Street Corp lifted its holdings in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 21.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,958 shares of the transportation company’s stock after acquiring an additional 9,600 shares during the quarter. State Street Corp owned 0.29% of FreightCar America worth $582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of FreightCar America by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after buying an additional 5,880 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of FreightCar America by 43.4% during the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock valued at $408,000 after acquiring an additional 35,387 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of FreightCar America during the 3rd quarter worth approximately $1,067,000. Quantbot Technologies LP bought a new stake in shares of FreightCar America in the 3rd quarter worth approximately $49,000. Finally, Walleye Capital LLC purchased a new position in FreightCar America in the third quarter valued at approximately $813,000. Hedge funds and other institutional investors own 31.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

FreightCar America Stock Up 7.0 %

RAIL opened at $10.21 on Friday. The firm has a 50-day moving average price of $10.63 and a 200-day moving average price of $8.22. FreightCar America, Inc. has a twelve month low of $2.40 and a twelve month high of $16.10. The company has a market capitalization of $192.91 million, a price-to-earnings ratio of -2.41 and a beta of 1.94.

Insider Activity at FreightCar America

In related news, Director James R. Meyer purchased 23,400 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $10.74 per share, with a total value of $251,316.00. Following the completion of the acquisition, the director now directly owns 838,278 shares of the company’s stock, valued at approximately $9,003,105.72. The trade was a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 28.00% of the stock is owned by company insiders.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.