Pinnacle Holdings LLC boosted its holdings in FreightCar America, Inc. (NASDAQ:RAIL) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,062 shares of the transportation company’s stock after buying an additional 4,065 shares during the period. Pinnacle Holdings LLC owned approximately 0.33% of FreightCar America worth $701,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in FreightCar America by 234.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,875 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 6,221 shares in the last quarter. KBC Group NV bought a new stake in FreightCar America in the third quarter valued at approximately $178,000. Alliancebernstein L.P. bought a new stake in FreightCar America in the second quarter valued at approximately $212,000. The Manufacturers Life Insurance Company increased its stake in FreightCar America by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 18,950 shares of the transportation company’s stock valued at $330,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in FreightCar America by 22.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,600 shares of the transportation company’s stock valued at $369,000 after purchasing an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
Shares of FreightCar America, Inc. (RAIL) opened at $16.27 on Friday. FreightCar America, Inc. has a 12-month low of $12.07 and a 12-month high of $20.46.
Several brokerages have commented on RAIL. Seaport Global Securities began coverage on shares of FreightCar America in a research note on Thursday, January 4th. They issued a “neutral” rating for the company. ValuEngine downgraded shares of FreightCar America from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Zacks Investment Research raised shares of FreightCar America from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 target price (down previously from $15.00) on shares of FreightCar America in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.25.
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FreightCar America Profile
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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