In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), FreightCar America, Inc. (NASDAQ:RAIL) reported that Royce & Associates has picked up 1,278,793 of common stock as of 2017-05-04.
The acquisition brings the aggregate amount owned by Royce & Associates to a total of 1,278,793 representing less than 10.3% stake in the company.
For those not familiar with the company, 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. The Company manufactures aluminum-bodied railcars, including coal cars. The Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Company refurbishes and rebuilds railcars, and sells forged, cast and fabricated parts for all of the railcars. The Company also leases freight cars through its JAIX Leasing Company subsidiary. The Company’s railcar manufacturing facilities are located in Cherokee, Alabama (Shoals), Danville, Illinois and Roanoke, Virginia.
A glance at FreightCar America, Inc. (NASDAQ:RAIL)’s key stats reveals a current market capitalization of 191.35 Million based on 12.38 Million shares outstanding and a price at last close of $15.78 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-09, Schmitt picked up 300 at a purchase price of $12.92. This brings their total holding to 40,000 as of the date of the filing.
On the sell side, the most recent transaction saw Madden unload 13,036 shares at a sale price of $29.53. This brings their total holding to 1,802.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on FreightCar America, Inc. (NASDAQ:RAIL) as things move forward to see if its progress aligns with these transactions.
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