M&T Bank Corp Has $4.62 Million Position in CRH plc (NYSE:CRH)

M&T Bank Corp raised its holdings in CRH plc (NYSE:CRH - Free Report) by 78.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,825 shares of the construction company's stock after purchasing an additional 21,962 shares during the period. M&T Bank Corp's holdings in CRH were worth $4,620,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. raised its stake in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company's stock valued at $25,000 after purchasing an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new position in shares of CRH in the 3rd quarter valued at approximately $25,000. UMB Bank n.a. lifted its holdings in shares of CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company's stock worth $28,000 after acquiring an additional 125 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of CRH during the 3rd quarter worth approximately $35,000. Finally, Baillie Gifford & Co. increased its stake in CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company's stock valued at $36,000 after acquiring an additional 162 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Stock Down 0.6 %

CRH traded down $0.62 during midday trading on Friday, hitting $97.93. 2,155,541 shares of the company were exchanged, compared to its average volume of 4,796,508. The firm has a market capitalization of $66.51 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.25 and a beta of 1.29. The firm's 50 day moving average price is $97.12 and its 200-day moving average price is $87.52. CRH plc has a 1-year low of $65.74 and a 1-year high of $104.23.

CRH Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays assumed coverage on CRH in a report on Tuesday, October 29th. They issued an "overweight" rating and a $110.00 target price on the stock. DA Davidson raised their price objective on CRH from $110.00 to $120.00 and gave the company a "buy" 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 upgraded shares of CRH from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Finally, HSBC began coverage on shares of CRH in a research report on Monday, November 11th. They set a "buy" rating and a $116.00 price objective for the company. 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 $106.42.

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.