Mechanics Financial Corp Makes New Investment in Freightcar America, Inc. (NASDAQ:RAIL)

Mechanics Financial Corp bought a new position in Freightcar America, Inc. (NASDAQ:RAIL) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the transportation company’s stock, valued at approximately $55,000. Mechanics Financial Corp owned approximately 0.05% of Freightcar America at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RAIL. Quantbot Technologies LP boosted its holdings in Freightcar America by 80.8% in the fourth quarter. Quantbot Technologies LP now owns 8,128 shares of the transportation company’s stock worth $73,000 after acquiring an additional 3,632 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Freightcar America in the first quarter worth $88,000. State of Wyoming bought a new stake in Freightcar America in the fourth quarter worth $136,000. Graham Capital Management L.P. bought a new stake in Freightcar America in the fourth quarter worth $152,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Freightcar America by 758.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,372 shares of the transportation company’s stock worth $174,000 after acquiring an additional 17,115 shares in the last quarter. 31.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Northcoast Research assumed coverage on Freightcar America in a report on Thursday, May 1st. They issued a “buy” rating and a $9.00 target price on the stock. Wall Street Zen downgraded Freightcar America from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th.

Freightcar America Price Performance

Shares of NASDAQ:RAIL opened at $11.04 on Wednesday. The company has a market cap of $210.20 million, a P/E ratio of -11.87 and a beta of 1.89. Freightcar America, Inc. has a 1 year low of $3.08 and a 1 year high of $16.10. The stock’s fifty day moving average price is $8.41 and its 200-day moving average price is $8.37.

Insider Activity

In other news, insider Celia Perez sold 7,982 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $8.59, for a total transaction of $68,565.38. Following the transaction, the insider directly owned 50,326 shares of the company’s stock, valued at $432,300.34. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 28.70% of the stock is currently owned by insiders.

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.