Diamond Hill Capital Management Inc. Purchases New Holdings in Freightcar America, Inc. $RAIL

Diamond Hill Capital Management Inc. purchased a new position in shares of Freightcar America, Inc. (NASDAQ:RAIL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,193 shares of the transportation company’s stock, valued at approximately $501,000. Diamond Hill Capital Management Inc. owned approximately 0.27% of Freightcar America at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts recently issued reports on RAIL shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Freightcar America in a research report on Thursday, January 22nd. Wall Street Zen raised Freightcar America from a “hold” rating to a “buy” rating in a report on Sunday, December 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Stock Up 7.3%

NASDAQ RAIL opened at $12.44 on Monday. The company has a market cap of $237.36 million, a price-to-earnings ratio of 4.71 and a beta of 1.77. Freightcar America, Inc. has a twelve month low of $4.31 and a twelve month high of $13.46. The business’s fifty day moving average is $10.68 and its 200 day moving average is $9.61.

Freightcar America (NASDAQ:RAIL) last posted its earnings results on Monday, November 10th. The transportation company reported $0.24 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $160.51 million during the quarter, compared to the consensus estimate of $157.25 million. On average, research analysts anticipate that Freightcar America, Inc. will post 0.09 earnings per share for the current fiscal year.

Freightcar America Company 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.