Northern Trust Corp lessened its position in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 7.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,331 shares of the transportation company’s stock after selling 9,831 shares during the period. Northern Trust Corp owned approximately 1.02% of FreightCar America worth $753,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Trexquant Investment LP bought a new stake in shares of FreightCar America during the second quarter worth approximately $70,000. Minerva Advisors LLC bought a new stake in shares of FreightCar America during the second quarter worth approximately $427,000. Renaissance Technologies LLC boosted its holdings in shares of FreightCar America by 604.0% during the second quarter. Renaissance Technologies LLC now owns 88,000 shares of the transportation company’s stock worth $517,000 after acquiring an additional 75,500 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of FreightCar America by 24.6% during the second quarter. JPMorgan Chase & Co. now owns 130,089 shares of the transportation company’s stock worth $740,000 after acquiring an additional 25,713 shares during the period. Finally, Pacific Ridge Capital Partners LLC boosted its holdings in shares of FreightCar America by 24.0% during the second quarter. Pacific Ridge Capital Partners LLC now owns 261,914 shares of the transportation company’s stock worth $1,537,000 after acquiring an additional 50,699 shares during the period. Institutional investors own 71.95% of the company’s stock.
NASDAQ RAIL opened at $4.75 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51. FreightCar America, Inc. has a 1-year low of $3.64 and a 1-year high of $16.07. The company has a 50 day moving average of $4.65 and a 200-day moving average of $5.60. The company has a market cap of $59.02 million, a price-to-earnings ratio of -2.67 and a beta of 1.42.
RAIL has been the subject of a number of analyst reports. Cowen reiterated a “hold” rating and issued a $6.00 price target on shares of FreightCar America in a research report on Monday, August 5th. Zacks Investment Research downgraded shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Saturday, October 12th. Finally, ValuEngine upgraded shares of FreightCar America from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating, FreightCar America currently has an average rating of “Hold” and an average target price of $6.44.
About FreightCar America
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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