Allspring Global Investments Holdings LLC Invests $1.07 Million in FreightCar America, Inc. (NASDAQ:RAIL)

Allspring Global Investments Holdings LLC acquired a new stake in shares of FreightCar America, Inc. (NASDAQ:RAIL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 98,898 shares of the transportation company's stock, valued at approximately $1,067,000. Allspring Global Investments Holdings LLC owned approximately 0.52% of FreightCar America as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in FreightCar America by 43.4% during the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company's stock valued at $408,000 after purchasing an additional 35,387 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of FreightCar America by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company's stock valued at $2,250,000 after acquiring an additional 26,412 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in FreightCar America by 24.4% in the second 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 in the last quarter. 31.96% of the stock is owned by institutional investors.

Insider Transactions at FreightCar America

In other FreightCar America news, Director Nigris Felan Jose De acquired 4,000 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $10.19 per share, for a total transaction of $40,760.00. Following the acquisition, the director now directly owns 73,147 shares in the company, valued at $745,367.93. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Nigris Felan Jose De purchased 4,000 shares of FreightCar America stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $10.19 per share, with a total value of $40,760.00. Following the purchase, the director now directly owns 73,147 shares of the company's stock, valued at approximately $745,367.93. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Gehl sold 10,000 shares of FreightCar America stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $10.83, for a total transaction of $108,300.00. Following the sale, the director now owns 147,608 shares of the company's stock, valued at $1,598,594.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 28.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded FreightCar America from a "buy" rating to a "hold" rating in a research report on Friday, September 27th.

FreightCar America Stock Performance

NASDAQ RAIL traded down $0.69 on Friday, hitting $13.67. 390,072 shares of the stock were exchanged, compared to its average volume of 146,317. FreightCar America, Inc. has a 52-week low of $2.25 and a 52-week high of $15.06. The firm has a market capitalization of $258.01 million, a P/E ratio of -19.86 and a beta of 2.02. The stock has a fifty day moving average price of $10.68 and a two-hundred day moving average price of $6.09.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $147.42 million for the quarter, compared to the consensus estimate of $127.09 million. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. During the same period in the prior year, the firm posted $0.02 EPS. Sell-side analysts expect that FreightCar America, Inc. will post 0.19 earnings per share for the current fiscal year.

FreightCar America Company 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.