CRH (NYSE:CRH) Reaches New 12-Month High at $91.84

CRH plc (NYSE:CRH) hit a new 52-week high during trading on Wednesday . The company traded as high as $91.84 and last traded at $90.79, with a volume of 2992366 shares changing hands. The stock had previously closed at $89.27.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. DA Davidson upped their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup lowered their target price on shares of CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Stephens started coverage on CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price target on the stock. Finally, StockNews.com cut CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.70.

CRH Trading Up 0.9 %

The business’s fifty day moving average price is $83.87 and its 200 day moving average price is $81.59.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting 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. On average, research analysts anticipate that CRH plc will post 5.45 earnings per share for the current fiscal year.

CRH Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be given a dividend of $0.35 per share. This represents a dividend yield of 1.7%. The ex-dividend date is Friday, August 23rd.

Hedge Funds Weigh In On CRH

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenhaven Associates Inc. boosted its holdings in shares of CRH by 0.8% in the 2nd quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock worth $833,782,000 after acquiring an additional 91,267 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CRH by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after purchasing an additional 431,172 shares during the last quarter. Putnam Investments LLC increased its stake 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 buying an additional 6,587,066 shares in the last quarter. Lazard Asset Management LLC raised 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 buying an additional 5,068,682 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after buying an additional 4,825,752 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.