Insider Buying: FreightCar America, Inc. (NASDAQ:RAIL) Director Acquires 23,400 Shares of Stock

FreightCar America, Inc. (NASDAQ:RAIL) Director James R. Meyer acquired 23,400 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the completion of the purchase, the director now owns 838,278 shares of the company’s stock, valued at $9,003,105.72. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FreightCar America Trading Down 4.7 %

Shares of RAIL opened at $9.43 on Tuesday. The firm’s fifty day simple moving average is $11.83 and its two-hundred day simple moving average is $6.86. FreightCar America, Inc. has a 12 month low of $2.25 and a 12 month high of $16.10. The stock has a market capitalization of $178.17 million, a P/E ratio of -2.22 and a beta of 2.00.

Institutional Investors Weigh In On FreightCar America

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in FreightCar America by 4.7% in the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock valued at $2,250,000 after buying an additional 26,412 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of FreightCar America by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 5,880 shares during the period. Renaissance Technologies LLC boosted its stake in FreightCar America by 43.4% during the second 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in FreightCar America in the third quarter worth $1,067,000. Finally, Quantbot Technologies LP bought a new position in shares of FreightCar America during the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

About FreightCar America

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.