JPMorgan Chase & Co. Boosts Stock Position in FreightCar America, Inc. (NASDAQ:RAIL)

JPMorgan Chase & Co. raised its stake in FreightCar America, Inc. (NASDAQ:RAIL) by 98.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,599 shares of the transportation company’s stock after acquiring an additional 2,281 shares during the period. JPMorgan Chase & Co.’s holdings in FreightCar America were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of FreightCar America in the third quarter valued at approximately $1,067,000. Barclays PLC acquired a new position in shares of FreightCar America during the 3rd quarter worth $73,000. Walleye Capital LLC purchased a new position in shares of FreightCar America in the 3rd quarter valued at about $813,000. State Street Corp lifted its stake in shares of FreightCar America by 21.6% in the third quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after purchasing an additional 9,600 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in FreightCar America by 12.4% during the third quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company’s stock worth $1,950,000 after buying an additional 19,890 shares in the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

FreightCar America Stock Up 3.3 %

NASDAQ:RAIL opened at $12.21 on Wednesday. FreightCar America, Inc. has a 52-week low of $2.70 and a 52-week high of $16.10. The stock has a fifty day simple moving average of $10.45 and a 200-day simple moving average of $9.56. The company has a market capitalization of $230.65 million, a PE ratio of -2.88 and a beta of 1.96.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of FreightCar America from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Buying and Selling

In other news, Director James R. Meyer bought 23,400 shares of FreightCar America stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the acquisition, the director now owns 838,278 shares in the company, 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 legal filing with the SEC, which is available at the SEC website. Insiders own 28.00% of the company’s stock.

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.