California Public Employees Retirement System lowered its stake in shares of American Railcar Industries Inc. (NASDAQ:ARII) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 74,600 shares of the company’s stock after selling 2,400 shares during the period. California Public Employees Retirement System owned approximately 0.38% of American Railcar Industries worth $2,944,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Smithfield Trust Co. raised its stake in shares of American Railcar Industries by 4.4% in the second quarter. Smithfield Trust Co. now owns 2,610 shares of the company’s stock worth $103,000 after buying an additional 110 shares during the last quarter. Magnetar Financial LLC increased its position in American Railcar Industries by 4.8% in the first quarter. Magnetar Financial LLC now owns 7,965 shares of the company’s stock valued at $324,000 after buying an additional 368 shares during the period. Wellington Management Group LLP acquired a new position in American Railcar Industries during the first quarter valued at approximately $351,000. Vicus Capital acquired a new position in American Railcar Industries during the second quarter valued at approximately $355,000. Finally, Nisa Investment Advisors LLC acquired a new position in American Railcar Industries during the second quarter valued at approximately $395,000. 92.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Railcar Industries Inc. (NASDAQ:ARII) traded up 2.8691% during trading on Wednesday, hitting $40.4687. 122,380 shares of the company were exchanged. The stock has a market cap of $785.05 million, a P/E ratio of 7.4804 and a beta of 2.58. The company’s 50-day moving average price is $40.75 and its 200 day moving average price is $40.57. American Railcar Industries Inc. has a 12 month low of $33.23 and a 12 month high of $57.93.
American Railcar Industries (NASDAQ:ARII) last announced its earnings results on Thursday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.03. American Railcar Industries had a net margin of 14.23% and a return on equity of 20.23%. The firm had revenue of $150.50 million for the quarter, compared to analyst estimates of $147.37 million. During the same quarter last year, the business earned $1.54 earnings per share. American Railcar Industries’s revenue was down 21.6% compared to the same quarter last year. On average, equities analysts predict that American Railcar Industries Inc. will post $4.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.07%. American Railcar Industries’s dividend payout ratio (DPR) is currently 29.74%.
Several equities analysts have commented on the stock. Cowen and Company assumed coverage on shares of American Railcar Industries in a research note on Wednesday, June 22nd. They issued a “market perform” rating and a $40.00 price target for the company. Zacks Investment Research downgraded shares of American Railcar Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Finally, Standpoint Research restated a “buy” rating on shares of American Railcar Industries in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. American Railcar Industries has an average rating of “Hold” and a consensus price target of $41.67.
American Railcar Industries Company Profile
American Railcar Industries, Inc is a designer and manufacturer of hopper and tank railcars. The Company designs, manufactures and sells railcars and a range of components for the North American railcar and industrial markets. The Company operates through three segments: manufacturing, railcar leasing and railcar services.
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