Bank of New York Mellon Corp cut its stake in Gulf Island Fabrication (NASDAQ:GIFI) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,323 shares of the oil and gas company’s stock after selling 10,352 shares during the period. Bank of New York Mellon Corp owned approximately 1.12% of Gulf Island Fabrication worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Gulf Island Fabrication by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,209,908 shares of the oil and gas company’s stock valued at $15,366,000 after purchasing an additional 20,615 shares in the last quarter. State Street Corp grew its position in shares of Gulf Island Fabrication by 186.7% in the second quarter. State Street Corp now owns 201,559 shares of the oil and gas company’s stock valued at $2,337,000 after purchasing an additional 131,261 shares in the last quarter. California Public Employees Retirement System grew its position in Gulf Island Fabrication by 18.7% in the fourth quarter. California Public Employees Retirement System now owns 69,102 shares of the oil and gas company’s stock worth $928,000 after acquiring an additional 10,869 shares during the period. Rhumbline Advisers grew its position in Gulf Island Fabrication by 16.3% in the fourth quarter. Rhumbline Advisers now owns 32,584 shares of the oil and gas company’s stock worth $437,000 after acquiring an additional 4,568 shares during the period. Finally, California State Teachers Retirement System purchased a new position in Gulf Island Fabrication in the second quarter worth approximately $281,000. Institutional investors and hedge funds own 72.39% of the company’s stock.

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Shares of Gulf Island Fabrication stock opened at $8.60 on Tuesday. Gulf Island Fabrication has a fifty-two week low of $6.90 and a fifty-two week high of $13.95.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its quarterly earnings data 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 during the quarter. Gulf Island Fabrication had a negative return on equity of 15.44% and a negative net margin of 26.17%.

In other news, COO Todd F. Ladd purchased 5,000 shares of the firm’s stock in a transaction on Thursday, March 29th. The shares were bought at an average cost of $7.20 per share, for a total transaction of $36,000.00. Following the completion of the purchase, the chief operating officer now directly owns 161,003 shares of the company’s stock, valued at $1,159,221.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kirk J. Meche purchased 3,600 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were purchased at an average price of $8.29 per share, for a total transaction of $29,844.00. Following the completion of the purchase, the chief executive officer now directly owns 330,103 shares of the company’s stock, valued at $2,736,553.87. The disclosure for this purchase can be found here. Insiders purchased 9,600 shares of company stock valued at $74,234 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Several research analysts recently weighed in on GIFI shares. TheStreet lowered Gulf Island Fabrication from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. ValuEngine lowered Gulf Island Fabrication from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd.

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Gulf Island Fabrication Company 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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Institutional Ownership by Quarter for Gulf Island Fabrication (NASDAQ:GIFI)

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