FreightCar America, Inc. (NASDAQ:RAIL) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,618 shares of the transportation company’s stock after acquiring an additional 19,890 shares during the period. Geode Capital Management LLC owned approximately 0.96% of FreightCar America worth $1,950,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RAIL. Barclays PLC bought a new stake in shares of FreightCar America during the third quarter valued at about $73,000. XTX Topco Ltd acquired a new position in FreightCar America during the 3rd quarter valued at about $247,000. State Street Corp lifted its stake in shares of FreightCar America by 21.6% in the 3rd quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock worth $582,000 after acquiring an additional 9,600 shares during the period. Centiva Capital LP bought a new position in shares of FreightCar America in the third quarter valued at approximately $453,000. Finally, Walleye Capital LLC acquired a new position in shares of FreightCar America during the third quarter valued at approximately $813,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

Wall Street Analyst Weigh In

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

FreightCar America Stock Down 2.7 %

Shares of FreightCar America stock opened at $10.00 on Thursday. The business has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $8.37. FreightCar America, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $16.10. The firm has a market cap of $188.94 million, a price-to-earnings ratio of -2.36 and a beta of 1.96.

Insider Buying and Selling at FreightCar America

In related news, Director James R. Meyer purchased 23,400 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $10.74 per share, with a total value of $251,316.00. Following the completion of the acquisition, the director now owns 838,278 shares of the company’s stock, valued at approximately $9,003,105.72. This represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.00% of the stock is owned by corporate insiders.

FreightCar America 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.