CRH (NYSE:CRH) Sets New 12-Month High at $91.02

CRH plc (NYSE:CRH - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $91.02 and last traded at $90.77, with a volume of 6966629 shares. The stock had previously closed at $88.31.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup cut their price objective on CRH from $109.00 to $99.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Truist Financial lifted their target price on CRH from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, August 9th. DA Davidson lifted their target price on CRH from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, August 9th. StockNews.com downgraded CRH from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada started coverage on CRH in a research report on Tuesday, May 14th. They issued an "outperform" rating and a $110.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.70.

CRH Stock Up 2.7 %

The firm has a market capitalization of $62.30 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.34 and a beta of 1.30. The stock has a 50-day moving average price of $80.44 and a 200 day moving average price of $80.72.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting analysts' consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities analysts forecast that CRH plc will post 5.39 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be issued a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 23rd. CRH's dividend payout ratio (DPR) is 29.97%.

Hedge Funds Weigh In On CRH

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of CRH in the fourth quarter valued at approximately $1,014,454,000. Putnam Investments LLC boosted its holdings in shares of CRH by 3,384.4% in the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company's stock valued at $469,022,000 after acquiring an additional 6,587,066 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of CRH by 35,497.5% in the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company's stock valued at $438,455,000 after acquiring an additional 5,068,682 shares during the period. Legal & General Group Plc boosted its holdings in shares of CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company's stock valued at $361,278,000 after acquiring an additional 4,825,752 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of CRH by 2,199.7% in the first quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company's stock valued at $288,383,000 after acquiring an additional 3,197,092 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.