Freightcar America, Inc. $RAIL Shares Bought by Mechanics Financial Corp

Mechanics Financial Corp boosted its holdings in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 100.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the transportation company’s stock after acquiring an additional 10,000 shares during the quarter. Mechanics Financial Corp’s holdings in Freightcar America were worth $172,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RAIL. Millennium Management LLC grew its stake in shares of Freightcar America by 170.7% in the fourth quarter. Millennium Management LLC now owns 140,108 shares of the transportation company’s stock valued at $1,255,000 after buying an additional 88,356 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Freightcar America in the fourth quarter valued at $254,000. Squarepoint Ops LLC acquired a new stake in shares of Freightcar America in the fourth quarter valued at $290,000. Victory Capital Management Inc. acquired a new stake in shares of Freightcar America in the first quarter valued at $88,000. Finally, Virtu Financial LLC acquired a new stake in shares of Freightcar America in the first quarter valued at $148,000. 31.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.00.

Freightcar America Price Performance

RAIL opened at $9.55 on Friday. Freightcar America, Inc. has a 12 month low of $4.31 and a 12 month high of $16.10. The stock has a market capitalization of $182.69 million, a price-to-earnings ratio of -13.64 and a beta of 2.19. The business has a fifty day moving average price of $9.11 and a 200 day moving average price of $8.08.

Freightcar America Profile

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.