CRH (NYSE:CRH) Shares Gap Down - Here's Why

CRH plc (NYSE:CRH - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $97.51, but opened at $92.40. CRH shares last traded at $92.91, with a volume of 2,821,778 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRH shares. Berenberg Bank set a $120.00 price target on shares of CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a report on Tuesday. Citigroup lowered 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. Finally, StockNews.com raised CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $109.25.

CRH Stock Performance

The firm has a fifty day simple moving average of $99.13 and a 200 day simple moving average of $95.97. The company has a market cap of $64.19 billion, a PE ratio of 18.97, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. This is an increase from CRH's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH's payout ratio is presently 20.87%.

Hedge Funds Weigh In On CRH

A number of large investors have recently bought and sold shares of CRH. Orion Capital Management LLC acquired a new stake in shares of CRH during the 4th quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in CRH during the fourth quarter valued at about $32,000. Park Square Financial Group LLC acquired a new stake in CRH during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. raised its holdings in shares of CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock worth $33,000 after purchasing an additional 240 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of CRH in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

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.

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