Wellington Management Group LLP Decreases Stake in CRH plc (NYSE:CRH)

Wellington Management Group LLP lowered its position in shares of CRH plc (NYSE:CRH - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,746,959 shares of the construction company's stock after selling 185,628 shares during the quarter. Wellington Management Group LLP owned about 0.41% of CRH worth $255,057,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CRH. Norges Bank acquired a new stake in shares of CRH during the fourth quarter worth about $1,391,245,000. Franklin Resources Inc. lifted its stake in CRH by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company's stock valued at $1,329,796,000 after acquiring an additional 1,148,708 shares during the period. AGF Management Ltd. boosted its holdings in shares of CRH by 4,264.7% in the 4th quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company's stock valued at $95,714,000 after acquiring an additional 1,010,825 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CRH by 10.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company's stock worth $796,546,000 after acquiring an additional 826,758 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of CRH by 48.2% during the fourth quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company's stock worth $231,206,000 after purchasing an additional 808,061 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Performance

Shares of NYSE:CRH traded down $5.73 during midday trading on Friday, reaching $80.63. 8,909,533 shares of the company's stock traded hands, compared to its average volume of 5,550,208. The company has a fifty day simple moving average of $98.48 and a two-hundred day simple moving average of $96.71. The company has a market cap of $54.53 billion, a P/E ratio of 16.13, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be given a $0.37 dividend. This is a positive change from CRH's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. CRH's dividend payout ratio (DPR) is 22.66%.

Analyst Ratings Changes

Several brokerages have weighed in on CRH. Citigroup cut their price target on CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 price objective on CRH in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, CRH currently has a consensus rating of "Buy" and an average target price of $109.64.

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.