FreightCar America, Inc. (NASDAQ:RAIL) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,618 shares of the transportation company’s stock after buying an additional 19,890 shares during the quarter. Geode Capital Management LLC’s holdings in FreightCar America were worth $1,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of FreightCar America in the third quarter worth $49,000. Barclays PLC acquired a new stake in FreightCar America during the third quarter valued at $73,000. XTX Topco Ltd purchased a new position in FreightCar America in the third quarter valued at about $247,000. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 5,880 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of FreightCar America during the 3rd quarter worth about $453,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FreightCar America

In related news, Director James R. Meyer bought 23,400 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 28.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com raised FreightCar America from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

FreightCar America Stock Down 2.7 %

RAIL stock opened at $10.00 on Thursday. The firm has a 50 day moving average of $10.47 and a two-hundred day moving average of $8.37. FreightCar America, Inc. has a 12 month low of $2.40 and a 12 month high of $16.10. The company has a market capitalization of $188.94 million, a price-to-earnings ratio of -2.36 and a beta of 1.96.

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.