JPMorgan Chase & Co. Increases Stock Holdings in FreightCar America, Inc. (NASDAQ:RAIL)

JPMorgan Chase & Co. increased its position in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 98.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,599 shares of the transportation company’s stock after purchasing an additional 2,281 shares during the period. JPMorgan Chase & Co.’s holdings in FreightCar America were worth $50,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in FreightCar America in the 3rd quarter valued at about $49,000. Barclays PLC purchased a new stake in shares of FreightCar America in the 3rd quarter valued at approximately $73,000. XTX Topco Ltd acquired a new position in shares of FreightCar America in the 3rd quarter worth approximately $247,000. Dimensional Fund Advisors LP lifted 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 during the last quarter. Finally, Centiva Capital LP purchased a new position in shares of FreightCar America during the 3rd quarter worth approximately $453,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

FreightCar America Trading Up 3.3 %

NASDAQ:RAIL opened at $12.21 on Wednesday. FreightCar America, Inc. has a 12-month low of $2.70 and a 12-month high of $16.10. The firm has a market cap of $230.65 million, a PE ratio of -2.88 and a beta of 1.96. The stock has a fifty day moving average price of $10.45 and a 200 day moving average price of $9.56.

Insiders Place Their Bets

In related news, Director James R. Meyer purchased 23,400 shares of FreightCar America stock in a transaction that occurred on 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 transaction, the director now directly owns 838,278 shares in the company, valued at approximately $9,003,105.72. The trade was a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 28.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered FreightCar America from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.