Bessemer Group Inc. Cuts Stake in CRH plc (NYSE:CRH)

Bessemer Group Inc. lessened its stake in CRH plc (NYSE:CRH - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,032,671 shares of the construction company's stock after selling 71,971 shares during the quarter. Bessemer Group Inc. owned about 0.59% of CRH worth $373,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of CRH during the 4th quarter worth $41,407,000. Martingale Asset Management L P grew its position in shares of CRH by 17.2% during the fourth quarter. Martingale Asset Management L P now owns 15,461 shares of the construction company's stock worth $1,430,000 after buying an additional 2,268 shares in the last quarter. APG Asset Management N.V. increased its position in shares of CRH by 355.3% in the 4th quarter. APG Asset Management N.V. now owns 454,041 shares of the construction company's stock valued at $40,568,000 after purchasing an additional 354,312 shares during the last quarter. Straightline Group LLC acquired a new stake in shares of CRH in the 4th quarter valued at $241,000. Finally, Capula Management Ltd lifted its position in shares of CRH by 238.3% during the 4th quarter. Capula Management Ltd now owns 38,811 shares of the construction company's stock worth $3,591,000 after purchasing an additional 27,338 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Analyst Ratings Changes

CRH has been the topic of several recent analyst reports. Citigroup dropped their target price on CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada decreased their target price on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a research note on Monday. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Finally, Loop Capital began coverage on shares of CRH in a research report on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CRH has an average rating of "Buy" and a consensus price target of $109.83.

CRH Stock Performance

NYSE CRH traded up $1.41 during trading on Monday, reaching $86.15. The company's stock had a trading volume of 1,903,061 shares, compared to its average volume of 5,622,551. CRH plc has a twelve month low of $71.18 and a twelve month high of $110.97. The firm has a market cap of $58.26 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.15 and a beta of 1.30. The business's fifty day moving average price is $96.40 and its 200-day moving average price is $96.26.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is an increase from CRH's previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.72%. CRH's dividend payout ratio is currently 22.66%.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.