Payden & Rygel Has $28.23 Million Holdings in CRH plc (NYSE:CRH)

Payden & Rygel cut its position in shares of CRH plc (NYSE:CRH - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,100 shares of the construction company's stock after selling 16,300 shares during the quarter. CRH comprises about 2.4% of Payden & Rygel's holdings, making the stock its 4th largest position. Payden & Rygel's holdings in CRH were worth $28,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Arkadios Wealth Advisors raised its holdings in shares of CRH by 4.9% during the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company's stock valued at $216,000 after purchasing an additional 109 shares during the period. Parallel Advisors LLC grew its stake in CRH by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company's stock valued at $630,000 after acquiring an additional 129 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of CRH by 3.2% during the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company's stock valued at $405,000 after acquiring an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of CRH by 18.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company's stock worth $90,000 after purchasing an additional 150 shares during the period. Finally, Manitou Investment Management Ltd. lifted its holdings in shares of CRH by 1.4% in the 4th quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company's stock worth $1,037,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

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

CRH Stock Performance

CRH traded down $4.72 during midday trading on Thursday, reaching $84.31. The company had a trading volume of 4,778,849 shares, compared to its average volume of 5,597,824. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The business has a 50-day moving average price of $96.96 and a two-hundred day moving average price of $96.35. The stock has a market cap of $57.02 billion, a PE ratio of 16.71, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 1.76%. This is a positive change from CRH's previous quarterly dividend of $0.23. CRH's dividend payout ratio (DPR) is 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.