State Street Corp Purchases 9,600 Shares of FreightCar America, Inc. (NASDAQ:RAIL)

State Street Corp increased its position in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 21.6% during the third quarter, HoldingsChannel.com reports. The fund owned 53,958 shares of the transportation company’s stock after acquiring an additional 9,600 shares during the period. State Street Corp’s holdings in FreightCar America were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of FreightCar America in the third quarter worth $49,000. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 5,880 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of FreightCar America by 43.4% in the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock valued at $408,000 after acquiring an additional 35,387 shares in the last quarter. Centiva Capital LP bought a new stake in shares of FreightCar America during the 3rd quarter valued at about $453,000. Finally, Walleye Capital LLC purchased a new position in shares of FreightCar America during the third quarter worth about $813,000. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

FreightCar America Trading Up 7.0 %

Shares of NASDAQ:RAIL opened at $10.21 on Friday. FreightCar America, Inc. has a 12-month low of $2.40 and a 12-month high of $16.10. The stock’s 50-day moving average price is $10.63 and its 200-day moving average price is $8.22. The stock has a market capitalization of $192.91 million, a P/E ratio of -2.41 and a beta of 1.94.

Insiders Place Their Bets

In other news, Director James R. Meyer bought 23,400 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the completion of the acquisition, the director now owns 838,278 shares of the company’s stock, valued at approximately $9,003,105.72. This trade represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 28.00% of the company’s stock.

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.