Allspring Global Investments Holdings LLC Takes $1.07 Million Position in FreightCar America, Inc. (NASDAQ:RAIL)

Allspring Global Investments Holdings LLC bought a new position in shares of FreightCar America, Inc. (NASDAQ:RAIL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 98,898 shares of the transportation company’s stock, valued at approximately $1,067,000. Allspring Global Investments Holdings LLC owned 0.52% of FreightCar America at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RAIL. Vanguard Group Inc. grew its stake in FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after buying an additional 26,412 shares during the last quarter. 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 acquiring an additional 5,880 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in FreightCar America by 43.4% during the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after acquiring an additional 35,387 shares during the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

Insider Transactions at FreightCar America

In other news, Director Nigris Felan Jose De acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $10.19 per share, with a total value of $40,760.00. Following the completion of the transaction, the director now directly owns 73,147 shares of the company’s stock, valued at $745,367.93. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Nigris Felan Jose De bought 4,000 shares of FreightCar America stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $10.19 per share, for a total transaction of $40,760.00. Following the completion of the acquisition, the director now directly owns 73,147 shares of the company’s stock, valued at approximately $745,367.93. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William D. Gehl sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total value of $108,300.00. Following the transaction, the director now owns 147,608 shares in the company, valued at $1,598,594.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Friday, September 27th.

FreightCar America Trading Down 3.4 %

RAIL stock opened at $14.36 on Friday. FreightCar America, Inc. has a 1-year low of $2.25 and a 1-year high of $15.06. The firm has a market cap of $270.97 million, a PE ratio of -20.73 and a beta of 2.02. The business’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $6.04.

FreightCar America (NASDAQ:RAIL) last posted its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $147.42 million during the quarter, compared to analysts’ expectations of $127.09 million. FreightCar America had a negative return on equity of 28.11% and a negative net margin of 0.62%. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, analysts forecast that FreightCar America, Inc. will post 0.19 earnings per share for the current year.

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.