Cevian Capital II GP LTD Has $659.32 Million Stake in CRH plc (NYSE:CRH)

Cevian Capital II GP LTD reduced its stake in CRH plc (NYSE:CRH - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,126,229 shares of the construction company's stock after selling 6,230,384 shares during the period. CRH accounts for approximately 25.6% of Cevian Capital II GP LTD's investment portfolio, making the stock its 2nd biggest position. Cevian Capital II GP LTD owned approximately 1.05% of CRH worth $659,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new stake in shares of CRH in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. lifted its position in shares of CRH by 214.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock valued at $33,000 after acquiring an additional 240 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of CRH during the 4th quarter worth $38,000. Deseret Mutual Benefit Administrators increased its position in shares of CRH by 87.7% in the fourth 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, GeoWealth Management LLC raised its stake in CRH by 46.3% in the fourth quarter. GeoWealth Management LLC now owns 559 shares of the construction company's stock valued at $52,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CRH shares. Royal Bank of Canada decreased their price objective on shares of CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Berenberg Bank set a $120.00 price objective on CRH in a research note on Friday, February 28th. StockNews.com raised 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, April 9th. They issued a "buy" rating and a $114.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $112.36.

CRH Price Performance

NYSE CRH traded up $0.40 during mid-day trading on Tuesday, reaching $93.44. 4,159,532 shares of the stock were exchanged, compared to its average volume of 5,714,193. The stock has a market cap of $63.19 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.15 and a beta of 1.30. The stock has a 50 day simple moving average of $92.42 and a 200-day simple moving average of $96.03. CRH plc has a one year low of $71.18 and a one year high of $110.97.

CRH Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from CRH's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, March 14th. CRH's payout ratio is currently 22.66%.

About CRH

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.