Stock Traders Buy Large Volume of CRH Call Options (NYSE:CRH)

CRH plc (NYSE:CRH - Get Free Report) was the recipient of some unusual options trading on Tuesday. Traders purchased 15,797 call options on the company. This is an increase of 153% compared to the average daily volume of 6,237 call options.

Institutional Trading of CRH

A number of hedge funds have recently made changes to their positions in the business. Orion Capital Management LLC acquired a new stake in CRH during the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new position in shares of CRH in the fourth quarter valued at about $32,000. Park Square Financial Group LLC acquired a new stake in shares of CRH during the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. boosted its holdings 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 worth $33,000 after buying an additional 240 shares during the period. Finally, Colonial Trust Co SC acquired a new position in CRH in the 4th quarter valued at about $37,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CRH shares. Citigroup dropped their price target on CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. Loop Capital began coverage on shares of CRH in a research note on Wednesday, April 9th. They issued a "buy" rating and a $114.00 target price for the company. Finally, StockNews.com raised CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $112.36.

CRH Price Performance

CRH stock traded up $1.38 during trading hours on Friday, reaching $92.73. The stock had a trading volume of 2,080,815 shares, compared to its average volume of 5,672,197. The stock has a market capitalization of $62.71 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The stock has a 50-day simple moving average of $93.04 and a 200 day simple moving average of $95.91. CRH has a fifty-two week low of $71.18 and a fifty-two week high of $110.97.

CRH Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from CRH's previous quarterly dividend of $0.23. CRH's payout ratio is 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.