Rhumbline Advisers grew its position in Gulf Island Fabrication (NASDAQ:GIFI) by 16.3% during the fourth quarter, HoldingsChannel reports. The firm owned 32,584 shares of the oil and gas company’s stock after buying an additional 4,568 shares during the quarter. Rhumbline Advisers’ holdings in Gulf Island Fabrication were worth $437,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Gulf Island Fabrication in the second quarter valued at about $161,000. Marshwinds Advisory Co. acquired a new stake in shares of Gulf Island Fabrication in the fourth quarter valued at about $300,000. Arizona State Retirement System acquired a new stake in shares of Gulf Island Fabrication in the fourth quarter valued at about $306,000. Wells Fargo & Company MN increased its position in shares of Gulf Island Fabrication by 256.6% in the fourth quarter. Wells Fargo & Company MN now owns 23,863 shares of the oil and gas company’s stock valued at $320,000 after acquiring an additional 17,172 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new stake in shares of Gulf Island Fabrication in the second quarter valued at about $281,000. 72.14% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on GIFI shares. TheStreet downgraded Gulf Island Fabrication from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. ValuEngine downgraded Gulf Island Fabrication from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd.
Gulf Island Fabrication (NASDAQ:GIFI) last announced its quarterly earnings results on Monday, February 26th. The oil and gas company reported ($1.13) earnings per share for the quarter. The business had revenue of $37.28 million for the quarter. Gulf Island Fabrication had a negative return on equity of 15.44% and a negative net margin of 26.17%.
In other Gulf Island Fabrication news, CEO Kirk J. Meche purchased 3,600 shares of the stock in a transaction on Thursday, March 1st. The shares were purchased at an average price of $8.29 per share, with a total value of $29,844.00. Following the completion of the transaction, the chief executive officer now directly owns 330,103 shares in the company, valued at $2,736,553.87. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Todd F. Ladd purchased 5,000 shares of the stock in a transaction on Thursday, March 29th. The shares were acquired at an average cost of $7.20 per share, for a total transaction of $36,000.00. Following the transaction, the chief operating officer now owns 161,003 shares of the company’s stock, valued at $1,159,221.60. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,600 shares of company stock worth $74,234. Company insiders own 3.40% of the company’s stock.
Gulf Island Fabrication Profile
Gulf Island Fabrication, Inc, through its subsidiaries, operates as a fabricator of offshore drilling and production platforms, and other steel structures in the United States. The company fabricates jackets and deck sections of fixed production platforms; hull, tendon, and/or deck sections of floating production platforms, such as tension leg platforms, single point anchor reservoirs, floating production storage and offloading vessels, and minimum deepwater operating concepts; pressure vessels; and piles, wellhead protectors, and subsea templates, as well as various production, compressor, and utility modules.
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