Oppenheimer Asset Management Inc. Boosts Stock Position in CRH plc (NYSE:CRH)

Oppenheimer Asset Management Inc. raised its stake in CRH plc (NYSE:CRH - Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,586 shares of the construction company's stock after purchasing an additional 25,677 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in CRH were worth $17,439,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CRH. First Financial Corp IN acquired a new stake in CRH in the 1st quarter worth about $26,000. GHP Investment Advisors Inc. increased its holdings in shares of CRH by 336.4% during the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company's stock worth $25,000 after purchasing an additional 259 shares during the period. NBC Securities Inc. raised its position in shares of CRH by 71.5% in the first quarter. NBC Securities Inc. now owns 415 shares of the construction company's stock valued at $35,000 after buying an additional 173 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of CRH in the second quarter valued at approximately $43,000. Finally, Richardson Financial Services Inc. acquired a new stake in CRH during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Price Performance

Shares of CRH stock traded up $0.83 during mid-day trading on Friday, hitting $87.49. The stock had a trading volume of 3,235,387 shares, compared to its average volume of 5,188,839. CRH plc has a 12-month low of $51.59 and a 12-month high of $91.02. The firm's 50-day moving average is $83.30 and its two-hundred day moving average is $81.50.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. The company had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $10.16 billion. On average, analysts predict that CRH plc will post 5.45 EPS 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. Shareholders 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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRH. StockNews.com cut shares of CRH from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Citigroup cut their target price on shares of CRH from $109.00 to $99.00 and set a "buy" rating on the stock in a research report on Thursday, July 11th. Morgan Stanley upgraded shares of CRH from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Truist Financial raised their price objective on CRH from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, Stephens assumed coverage on CRH in a research report on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 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 stock. According to data from MarketBeat.com, CRH presently has an average rating of "Moderate Buy" and an average price target of $95.70.

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.