Freightcar America, Inc. (NASDAQ:RAIL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 15.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,421 shares of the transportation company’s stock after selling 8,765 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.25% of Freightcar America worth $262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Freightcar America during the fourth quarter valued at $136,000. Graham Capital Management L.P. acquired a new stake in Freightcar America during the fourth quarter valued at $152,000. Tower Research Capital LLC TRC grew its position in Freightcar America by 758.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,372 shares of the transportation company’s stock valued at $174,000 after buying an additional 17,115 shares during the period. Barclays PLC grew its position in Freightcar America by 217.9% during the fourth quarter. Barclays PLC now owns 21,445 shares of the transportation company’s stock valued at $193,000 after buying an additional 14,699 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Freightcar America during the fourth quarter valued at $212,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

Freightcar America Stock Up 4.8%

RAIL opened at $10.40 on Wednesday. The company has a market cap of $198.02 million, a price-to-earnings ratio of -14.86 and a beta of 1.85. Freightcar America, Inc. has a 52-week low of $3.15 and a 52-week high of $16.10. The firm’s fifty day simple moving average is $9.52 and its two-hundred day simple moving average is $8.42.

Analyst Upgrades and Downgrades

Several analysts recently commented on RAIL shares. Northcoast Research began coverage on shares of Freightcar America in a research report on Thursday, May 1st. They set a “buy” rating and a $9.00 price target on the stock. Wall Street Zen downgraded shares of Freightcar America from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th.

Insider Transactions at Freightcar America

In other Freightcar America news, insider Celia Perez sold 7,982 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total transaction of $68,565.38. Following the transaction, the insider directly owned 50,326 shares of the company’s stock, valued at $432,300.34. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 28.70% of the stock is currently owned by insiders.

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.