Bornite Capital Management LP Acquires Shares of 150,000 CRH plc (NYSE:CRH)

Bornite Capital Management LP acquired a new stake in shares of CRH plc (NYSE:CRH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 150,000 shares of the construction company's stock, valued at approximately $13,878,000. CRH comprises 1.9% of Bornite Capital Management LP's holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of CRH in the 4th quarter worth $32,000. Brown Brothers Harriman & Co. raised its position in CRH by 214.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock valued at $33,000 after purchasing an additional 240 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of CRH in the 4th quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of CRH by 87.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company's stock worth $47,000 after purchasing an additional 236 shares during the period. Finally, Spire Wealth Management bought a new position in shares of CRH during the 4th quarter valued at approximately $57,000. Institutional investors own 62.50% of the company's stock.

CRH Trading Down 2.6 %

Shares of CRH stock traded down $2.12 during trading hours on Wednesday, reaching $78.23. 3,038,787 shares of the company's stock were exchanged, compared to its average volume of 5,565,023. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The stock's 50 day moving average is $97.37 and its 200-day moving average is $96.42. The company has a market cap of $52.91 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.89%. This is an increase from CRH's previous quarterly dividend of $0.23. CRH's dividend payout ratio is 22.66%.

Analyst Upgrades and Downgrades

CRH has been the topic of a number of recent analyst reports. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. Citigroup dropped their price objective on CRH from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. StockNews.com raised shares of CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Finally, Loop Capital initiated coverage on shares of CRH in a research note on Wednesday. They issued a "buy" rating and a $114.00 price target on the stock. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $110.00.

CRH 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.