California State Teachers Retirement System cut its stake in shares of Freightcar America Inc. (NASDAQ:RAIL) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 25,528 shares of the company’s stock after selling 600 shares during the period. California State Teachers Retirement System owned approximately 0.21% of Freightcar America worth $359,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio purchased a new position in Freightcar America during the second quarter valued at approximately $205,000. Bank of Montreal Can purchased a new position in Freightcar America during the second quarter valued at approximately $130,000. Eqis Capital Management Inc. increased its position in Freightcar America by 11.3% in the second quarter. Eqis Capital Management Inc. now owns 12,269 shares of the company’s stock valued at $172,000 after buying an additional 1,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Freightcar America by 121.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 159,763 shares of the company’s stock valued at $2,489,000 after buying an additional 87,594 shares in the last quarter. Finally, Bogle Investment Management L P DE increased its position in Freightcar America by 92.0% in the first quarter. Bogle Investment Management L P DE now owns 64,202 shares of the company’s stock valued at $1,000,000 after buying an additional 30,762 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Freightcar America Inc. (NASDAQ:RAIL) traded down 0.58% during mid-day trading on Friday, hitting $13.66. The company’s stock had a trading volume of 68,749 shares. Freightcar America Inc. has a 12-month low of $12.56 and a 12-month high of $24.95. The company has a market cap of $169.21 million, a PE ratio of 4.36 and a beta of 1.81. The stock has a 50-day moving average of $14.11 and a 200-day moving average of $14.58.
Freightcar America (NASDAQ:RAIL) last released its earnings results on Monday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.47. The company earned $126.20 million during the quarter, compared to analyst estimates of $163.43 million. Freightcar America had a net margin of 5.38% and a return on equity of 10.87%. The company’s revenue for the quarter was down 46.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. On average, equities research analysts forecast that Freightcar America Inc. will post $0.60 EPS for the current year.
Several research firms recently commented on RAIL. Stifel Nicolaus downgraded Freightcar America from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Zacks Investment Research raised Freightcar America from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Finally, Cowen and Company began coverage on Freightcar America in a research note on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.67.
In other Freightcar America news, VP Matthew S. Kohnke purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were purchased at an average cost of $14.07 per share, for a total transaction of $105,525.00. Following the completion of the purchase, the vice president now directly owns 2,100 shares in the company, valued at $29,547. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.
About Freightcar America
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
Want to see what other hedge funds are holding RAIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freightcar America Inc. (NASDAQ:RAIL).
Receive News & Ratings for Freightcar America Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freightcar America Inc. and related companies with MarketBeat.com's FREE daily email newsletter.