Ilmarinen Mutual Pension Insurance Co Takes $13.88 Million Position in CRH plc (NYSE:CRH)

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of CRH plc (NYSE:CRH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 150,000 shares of the construction company's stock, valued at approximately $13,878,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of CRH by 0.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,063,540 shares of the construction company's stock worth $98,399,000 after acquiring an additional 6,734 shares during the last quarter. Solstein Capital LLC bought a new position in shares of CRH during the 4th quarter worth about $102,000. Prudential PLC increased its holdings in shares of CRH by 9.8% during the 4th quarter. Prudential PLC now owns 17,009 shares of the construction company's stock worth $1,574,000 after purchasing an additional 1,525 shares during the period. Thoroughbred Financial Services LLC acquired a new position in shares of CRH during the fourth quarter valued at about $917,000. Finally, Bornite Capital Management LP bought a new stake in shares of CRH in the fourth quarter valued at about $13,878,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Analysts Set New Price Targets

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

CRH Price Performance

Shares of NYSE:CRH traded down $4.45 during trading on Thursday, reaching $84.58. The stock had a trading volume of 4,928,685 shares, compared to its average volume of 5,599,044. The stock has a market capitalization of $57.20 billion, a PE ratio of 16.83, a P/E/G ratio of 1.15 and a beta of 1.30. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The business's 50-day moving average price is $96.96 and its 200 day moving average price is $96.35.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from CRH's previous quarterly dividend of $0.23. CRH's dividend payout ratio is presently 22.66%.

CRH 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.