Parallax Volatility Advisers L.P. Makes New Investment in CRH plc (NYSE:CRH)

Parallax Volatility Advisers L.P. bought a new stake in shares of CRH plc (NYSE:CRH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,480 shares of the construction company's stock, valued at approximately $4,023,000.

Other institutional investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of CRH during the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. boosted its position in shares of CRH by 214.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock worth $33,000 after purchasing an additional 240 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of CRH during the fourth quarter worth $38,000. Deseret Mutual Benefit Administrators boosted its holdings in CRH by 87.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company's stock worth $47,000 after purchasing an additional 236 shares during the last quarter. Finally, GeoWealth Management LLC grew its stake in shares of CRH by 46.3% in the fourth quarter. GeoWealth Management LLC now owns 559 shares of the construction company's stock valued at $52,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 price objective on shares of CRH in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada dropped their price target on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. 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 research note on Monday, January 6th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $112.36.

CRH Price Performance

Shares of CRH traded up $0.40 during mid-day trading on Tuesday, reaching $93.44. The company's stock had a trading volume of 4,159,532 shares, compared to its average volume of 5,714,193. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The stock has a market cap of $63.19 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The company's 50 day moving average is $92.42 and its 200 day moving average is $96.03.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. This is a positive change from CRH's previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 14th. CRH's dividend payout ratio is presently 22.66%.

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.