The first quarter of 2005 closed with 41 completed initial public offerings. More of the IPOs priced below range and with one or two companies a week on deck there hasn’t been must action for the last several weeks.

The initial public offering of the Chicago-based railcar manufacturer FreightCar America Inc. (RAIL: chart) enjoyed a really warm reception on the IPO market last Wednesday.

The company, which increased the size of its IPO to sell 8.5 million common shares at $19 a share, was initially scheduled to sell only 6 million shares at a price range between $16 and $18 a share.

The ex-unit of Bethlehem Steel raised $161.5 million with underwriters UBS Investment Bank, Jefferies & Co. and CIBC World Markets.

The company is a manufacturer of aluminum-bodied railroad cars, used for freight and coal transport, which represented 78% of deliveries in 2004.

The company’s shares climbed 14.05% to close at $21.67 Friday.

IPOs to Expect:

During the week that begins April 11 there are only 3 IPOs on the calendar, representatives of solid industrial sectors such as steel, medical equipment and natural gas pipelines.

Lynwood, California-based metal products distributor Earle M. Jorgensen Co. (JOR: chart) plans to sell 20 million shares at a projected price range of $14-$16 each in an initial public offering to raise $300 million.

The company sells tubing, pipes, and bar, as well as structural, plate, and sheet metal products to the automotive, agriculture, chemical, medical, oil, defense, food, petrochemical, and machinery-manufacturing industries.

The IPO is to start trading on Thursday, April 14.

The underwriters of the deal are led by Credit Suisse First Boston and Goldman Sachs & Co.

The largest North American truck wheels-maker Accuride Corp. (ACW: chart) plans to raise $90.1 million in an initial public offering of 13.9 million shares at $17-$19 per share.

Citigroup, Deutsche Bank Securities and UBS Investment Bank are lead underwriters for the IPO.

San Diego-based DexCom, Inc. (DXCM: chart) plans to offer 4.7 million shares at $12 to $14 each to raise $61.1 million.

DexCom is an early stage medical device company focusing on developing proprietary technology for continuous glucose monitoring systems for people with diabetes.

Piper Jaffray and SG Cowen are co-lead managers of the deal.

The IPO is expected to be priced the week of April 11.

During the week to begin April 18 there are only two deals expected on the IPO calendar.