CRH plc (NYSE:CRH) Stake Cut by Barings LLC

Barings LLC reduced its stake in CRH plc (NYSE:CRH - Free Report) by 46.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 482,068 shares of the construction company's stock after selling 412,679 shares during the quarter. CRH comprises 1.1% of Barings LLC's holdings, making the stock its 10th largest holding. Barings LLC owned about 0.07% of CRH worth $44,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Permanent Capital Management LP acquired a new position in shares of CRH in the fourth quarter worth approximately $209,000. Larson Financial Group LLC lifted its stake in CRH by 21.0% in the fourth quarter. Larson Financial Group LLC now owns 2,016 shares of the construction company's stock valued at $187,000 after buying an additional 350 shares during the period. PNC Financial Services Group Inc. lifted its stake in CRH by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,002 shares of the construction company's stock valued at $1,018,000 after buying an additional 700 shares during the period. Banco Santander S.A. acquired a new position in CRH in the fourth quarter valued at approximately $984,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in CRH by 563.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 441,904 shares of the construction company's stock valued at $43,892,000 after buying an additional 375,327 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Remove Ads

CRH Trading Down 1.5 %

CRH stock traded down $1.45 during trading on Friday, hitting $97.34. 10,134,933 shares of the company were exchanged, compared to its average volume of 4,642,917. The business's 50 day moving average is $99.06 and its 200 day moving average is $95.90. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The company has a market capitalization of $66.11 billion, a P/E ratio of 19.47, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 1.52%. This is a boost from CRH's previous quarterly dividend of $0.23. CRH's payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRH. Citigroup dropped their price target on CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Morgan Stanley boosted their price target on CRH from $95.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Hsbc Global Res upgraded CRH to a "strong-buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on CRH from $114.00 to $116.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Finally, DA Davidson boosted their price objective on CRH from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday, November 11th. One equities research 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 company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $108.45.

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.