Short Interest in CRH plc (NYSE:CRH) Declines By 7.3%

CRH plc (NYSE:CRH - Get Free Report) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 9,660,000 shares, a decline of 7.3% from the November 15th total of 10,420,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 3,700,000 shares, the short-interest ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRH. Barclays started coverage on CRH in a report on Tuesday, October 29th. They issued an "overweight" rating and a $110.00 price objective for the company. JPMorgan Chase & Co. raised their price target on CRH from $114.00 to $116.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. StockNews.com raised shares of CRH from a "hold" rating to a "buy" rating in a report on Monday, November 11th. DA Davidson boosted their price target on shares of CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, Hsbc Global Res upgraded shares of CRH to a "strong-buy" rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CRH has a consensus rating of "Buy" and a consensus target price of $106.42.

CRH Price Performance

Shares of CRH traded up $0.29 during trading hours on Monday, hitting $98.21. 2,469,513 shares of the company were exchanged, compared to its average volume of 4,787,024. The company has a market capitalization of $66.70 billion, a PE ratio of 19.58, a PEG ratio of 1.25 and a beta of 1.29. The firm has a fifty day simple moving average of $97.30 and a 200-day simple moving average of $87.75. CRH has a one year low of $65.74 and a one year high of $104.23.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.262 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH's payout ratio is presently 21.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators acquired a new stake in CRH during the 3rd quarter worth about $25,000. UMB Bank n.a. grew its position in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company's stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company's stock valued at $25,000 after buying an additional 259 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of CRH during the 3rd quarter valued at $35,000. Finally, Baillie Gifford & Co. grew its holdings in shares of CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company's stock valued at $36,000 after acquiring an additional 162 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Company 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.

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