Fred Alger Management LLC Purchases Shares of 6,577 CRH plc (NYSE:CRH)

Fred Alger Management LLC bought a new stake in CRH plc (NYSE:CRH - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,577 shares of the construction company's stock, valued at approximately $610,000.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays assumed coverage on CRH in a research report on Tuesday, October 29th. They issued an "overweight" rating and a $110.00 target price for the company. Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Hsbc Global Res raised shares of CRH to a "strong-buy" rating in a research note on Monday, November 11th. StockNews.com raised shares of CRH from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Finally, DA Davidson lifted their target price on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $106.42.

CRH Trading Up 0.2 %

NYSE CRH traded up $0.19 on Monday, hitting $102.46. 3,269,996 shares of the company were exchanged, compared to its average volume of 4,834,861. The company has a market cap of $69.59 billion, a PE ratio of 20.49, a PEG ratio of 1.29 and a beta of 1.29. The stock has a fifty day moving average of $95.37 and a 200-day moving average of $86.35. CRH plc has a 12 month low of $62.80 and a 12 month high of $104.19.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be paid a $0.262 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH's dividend payout ratio is presently 37.20%.

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.