Andrew B. Schmitt Acquires 10,000 Shares of Freightcar America Inc. (RAIL) Stock
Freightcar America Inc. (NASDAQ:RAIL) Director Andrew B. Schmitt acquired 10,000 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $12.56 per share, for a total transaction of $125,600.00. Following the acquisition, the director now owns 30,500 shares of the company’s stock, valued at approximately $383,080. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Freightcar America Inc. (NASDAQ:RAIL) opened at 15.38 on Monday. The stock’s 50 day moving average is $13.49 and its 200-day moving average is $14.17. The stock has a market cap of $190.47 million, a PE ratio of 7.97 and a beta of 1.59. Freightcar America Inc. has a 12-month low of $10.87 and a 12-month high of $24.95.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 17th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.36 annualized dividend and a dividend yield of 2.34%. Freightcar America’s dividend payout ratio (DPR) is presently 18.65%.
Large investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its stake in Freightcar America by 31.2% in the third quarter. BlackRock Advisors LLC now owns 7,212 shares of the company’s stock valued at $104,000 after buying an additional 1,713 shares during the period. SG Americas Securities LLC bought a new stake in shares of Freightcar America during the third quarter worth $107,000. Bank of Montreal Can bought a new stake in shares of Freightcar America during the second quarter worth $130,000. KCG Holdings Inc. bought a new stake in shares of Freightcar America during the third quarter worth $159,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Freightcar America by 5.0% in the third quarter. PNC Financial Services Group Inc. now owns 12,033 shares of the company’s stock worth $173,000 after buying an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
A number of equities research analysts have weighed in on RAIL shares. Zacks Investment Research cut shares of Freightcar America from a “hold” rating to a “strong sell” rating in a report on Friday, August 5th. Cowen and Company cut their price objective on shares of Freightcar America from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Wednesday, November 2nd.
About Freightcar America
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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