Diamond Hill Capital Management LLC Investment Advisor Makes New $3.58 Million Investment in Freightcar America, Inc. $RAIL

Key Points

• Diamond Hill Capital Management acquired 367,946 Freightcar America shares worth approximately $3.58 million, giving it a 1.92% stake. Institutional investors collectively own 31.96% of the company.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock to “sell,” while Zacks upgraded it to “hold,” resulting in a consensus “Reduce” rating.
• Freightcar America reported a quarterly loss of $0.02 per share, though revenue of $113.14 million exceeded analyst estimates. Shares opened at $7.42, near their 12-month low of $7.22.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Freightcar America, Inc. (NASDAQ:RAIL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 367,946 shares of the transportation company's stock, valued at approximately $3,584,000. Diamond Hill Capital Management LLC Investment Advisor owned 1.92% of Freightcar America at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its position in shares of Freightcar America by 708.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 290,954 shares of the transportation company's stock worth $3,221,000 after buying an additional 254,954 shares during the period. North Star Investment Management Corp. grew its stake in Freightcar America by 36.8% during the first quarter. North Star Investment Management Corp. now owns 237,800 shares of the transportation company's stock worth $1,895,000 after buying an additional 64,000 shares during the last quarter. Globeflex Capital L P increased its holdings in shares of Freightcar America by 840.3% during the first quarter. Globeflex Capital L P now owns 72,484 shares of the transportation company's stock worth $578,000 after buying an additional 64,775 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in shares of Freightcar America during the fourth quarter worth approximately $734,000. Finally, Ritholtz Wealth Management raised its stake in shares of Freightcar America by 55.0% in the first quarter. Ritholtz Wealth Management now owns 37,707 shares of the transportation company's stock valued at $301,000 after acquiring an additional 13,373 shares during the last quarter. Institutional investors own 31.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings lowered Freightcar America from a "hold (c)" rating to a "sell (d)" rating in a research note on Tuesday, August 4th. Zacks Research raised Freightcar America from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Freightcar America currently has a consensus rating of "Reduce".

Freightcar America Stock Up 1.4%

Shares of RAIL opened at $7.42 on Tuesday. Freightcar America, Inc. has a 12 month low of $7.22 and a 12 month high of $14.90. The firm's 50 day moving average is $8.37 and its 200-day moving average is $9.29. The stock has a market capitalization of $243.30 million, a PE ratio of -13.74 and a beta of 1.48. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 2.70.

Freightcar America (NASDAQ:RAIL - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The transportation company reported ($0.02) EPS for the quarter. The company had revenue of $113.14 million during the quarter, compared to analyst estimates of $110.41 million. Freightcar America had a negative net margin of 2.69% and a negative return on equity of 15.23%. Equities research analysts forecast that Freightcar America, Inc. will post 0.35 EPS for the current 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.

Want to see what other hedge funds are holding RAIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freightcar America, Inc. (NASDAQ:RAIL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source