Gulf Island Fabrication, Inc. (GIFI) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,841 shares of the oil and gas company’s stock after buying an additional 5,115 shares during the period. Principal Financial Group Inc. owned approximately 0.71% of Gulf Island Fabrication worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of Gulf Island Fabrication during the fourth quarter worth about $857,000. AXA raised its position in shares of Gulf Island Fabrication by 25.4% in the first quarter. AXA now owns 59,200 shares of the oil and gas company’s stock worth $684,000 after buying an additional 12,000 shares during the last quarter. Eagle Global Advisors LLC raised its position in shares of Gulf Island Fabrication by 11.3% in the first quarter. Eagle Global Advisors LLC now owns 19,729 shares of the oil and gas company’s stock worth $228,000 after buying an additional 2,000 shares during the last quarter. Alambic Investment Management L.P. raised its position in shares of Gulf Island Fabrication by 20.9% in the first quarter. Alambic Investment Management L.P. now owns 27,145 shares of the oil and gas company’s stock worth $314,000 after buying an additional 4,686 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Gulf Island Fabrication by 35.9% in the first quarter. OppenheimerFunds Inc. now owns 19,737 shares of the oil and gas company’s stock worth $228,000 after buying an additional 5,211 shares during the last quarter. 62.55% of the stock is currently owned by institutional investors.

Shares of Gulf Island Fabrication, Inc. (NASDAQ GIFI) traded up 2.83% during trading on Friday, hitting $10.90. The company’s stock had a trading volume of 60,321 shares. The company’s market capitalization is $161.88 million. Gulf Island Fabrication, Inc. has a 1-year low of $8.52 and a 1-year high of $13.95. The firm’s 50 day moving average is $11.26 and its 200-day moving average is $10.93.

Gulf Island Fabrication (NASDAQ:GIFI) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.18) by $0.55. Gulf Island Fabrication had a negative net margin of 9.96% and a negative return on equity of 7.83%. The business had revenue of $45.87 million for the quarter. Analysts forecast that Gulf Island Fabrication, Inc. will post ($1.39) EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.04 annualized dividend and a yield of 0.37%. Gulf Island Fabrication’s payout ratio is -2.92%.

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About Gulf Island Fabrication

Gulf Island Fabrication, Inc (Gulf Island) is a holding company. The Company, along with its subsidiaries, is a fabricator of steel platforms and other specialized structures for customers in the offshore oil and gas industry. It also performs onshore and offshore construction and fabrication services for customers in the marine industry.

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

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