Empirical Asset Management LLC Takes $2.97 Million Position in CRH plc (NYSE:CRH)

Empirical Asset Management LLC purchased a new position in CRH plc (NYSE:CRH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,103 shares of the construction company's stock, valued at approximately $2,970,000.

A number of other hedge funds have also recently modified their holdings of CRH. Grove Bank & Trust raised its holdings in shares of CRH by 9.5% during the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company's stock valued at $132,000 after acquiring an additional 123 shares in the last quarter. UMB Bank n.a. raised its holdings in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company's stock worth $28,000 after purchasing an additional 125 shares in the last quarter. CVA Family Office LLC lifted its position in shares of CRH by 2.1% in the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company's stock worth $567,000 after purchasing an additional 128 shares during the period. Lindbrook Capital LLC boosted its stake in shares of CRH by 2.9% during the 3rd quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company's stock valued at $447,000 after purchasing an additional 135 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company's stock valued at $36,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRH shares. Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They issued an "overweight" rating and a $110.00 price objective for the company. Morgan Stanley raised their target price 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 raised CRH to a "strong-buy" rating in a research note on Monday, November 11th. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Finally, Citigroup reduced their target price on shares of 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, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CRH presently has an average rating of "Buy" and a consensus price target of $107.75.

CRH Stock Up 2.2 %

Shares of NYSE CRH traded up $2.10 during midday trading on Friday, hitting $97.69. The stock had a trading volume of 3,858,317 shares, compared to its average volume of 2,316,136. The company has a market cap of $66.35 billion, a P/E ratio of 19.54, a PEG ratio of 1.00 and a beta of 1.31. The business's 50 day moving average is $97.43 and its 200-day moving average is $90.35. CRH plc has a 52 week low of $68.15 and a 52 week high of $104.23.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.262 per share. The ex-dividend date was Friday, November 22nd. This represents a yield of 1.4%. CRH's dividend payout ratio is 21.00%.

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.