Point72 Asset Management L.P. Sells 756,936 Shares of CRH plc (NYSE:CRH)

Point72 Asset Management L.P. reduced its holdings in CRH plc (NYSE:CRH) by 73.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 276,373 shares of the construction company’s stock after selling 756,936 shares during the quarter. Point72 Asset Management L.P.’s holdings in CRH were worth $20,722,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Financial Corp IN acquired a new stake in shares of CRH during the 1st quarter worth approximately $26,000. GHP Investment Advisors Inc. grew its holdings in CRH by 336.4% in 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. increased its stake in 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 purchasing an additional 173 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of CRH during the second quarter valued at about $43,000. Finally, Richardson Financial Services Inc. bought a new position in shares of CRH during the 4th quarter worth about $47,000. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Performance

CRH stock opened at $93.24 on Friday. CRH plc has a fifty-two week low of $51.59 and a fifty-two week high of $94.14. The firm’s 50-day simple moving average is $85.30 and its 200 day simple moving average is $81.99.

CRH (NYSE:CRH) last announced its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.85. The business had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities analysts expect that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CRH. DA Davidson upped their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Citigroup reduced their price target on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Truist Financial upped their price objective on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Stephens started coverage on shares of CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company 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.