Diamond Hill Capital Management Inc. Purchases Shares of 51,193 Freightcar America, Inc. $RAIL

Diamond Hill Capital Management Inc. purchased a new stake in Freightcar America, Inc. (NASDAQ:RAIL) in the 3rd quarter, HoldingsChannel reports. The fund purchased 51,193 shares of the transportation company’s stock, valued at approximately $501,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RAIL. Dynamic Technology Lab Private Ltd acquired a new stake in Freightcar America during the 1st quarter valued at approximately $61,000. State of Wyoming acquired a new position in shares of Freightcar America in the 2nd quarter worth approximately $63,000. Pacific Wealth Strategies Group Inc. bought a new stake in shares of Freightcar America in the 2nd quarter valued at $87,000. Ritholtz Wealth Management increased its position in shares of Freightcar America by 54.6% during the second quarter. Ritholtz Wealth Management now owns 16,382 shares of the transportation company’s stock worth $141,000 after buying an additional 5,789 shares during the period. Finally, Heron Bay Capital Management acquired a new stake in shares of Freightcar America during the second quarter worth $143,000. 31.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RAIL has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Freightcar America from a “hold” rating to a “buy” rating in a report on Sunday, December 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Freightcar America in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Price Performance

Shares of RAIL opened at $12.44 on Monday. Freightcar America, Inc. has a one year low of $4.31 and a one year high of $13.46. The company has a market cap of $237.36 million, a PE ratio of 4.71 and a beta of 1.77. The stock has a 50-day moving average of $10.68 and a 200-day moving average of $9.61.

Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%.The business had revenue of $160.51 million for the quarter, compared to the consensus estimate of $157.25 million. Analysts expect that Freightcar America, Inc. will post 0.09 EPS for the current fiscal year.

Freightcar America Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.