Short Interest in CRH plc (NYSE:CRH) Increases By 8.8%

CRH plc (NYSE:CRH) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 10,930,000 shares, a growth of 8.8% from the August 31st total of 10,050,000 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 5,030,000 shares, the days-to-cover ratio is presently 2.2 days.

CRH Stock Performance

NYSE:CRH traded down $1.89 during trading hours on Tuesday, reaching $90.85. The stock had a trading volume of 3,314,905 shares, compared to its average volume of 5,085,311. The stock has a market cap of $62.38 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The stock has a 50 day simple moving average of $86.22 and a 200 day simple moving average of $82.22. CRH has a 12-month low of $51.59 and a 12-month high of $94.14.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. The business had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, equities analysts expect that CRH will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 25th. Investors of record on Friday, August 23rd were paid a $0.35 dividend. The ex-dividend date was Friday, August 23rd. This represents a yield of 1.7%. CRH’s dividend payout ratio is 29.77%.

Institutional Investors Weigh In On CRH

Hedge funds and other institutional investors have recently bought and sold shares of the business. Greenhaven Associates Inc. grew its position in shares of CRH by 0.8% in the second quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock valued at $833,782,000 after purchasing an additional 91,267 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $646,188,000 after buying an additional 431,172 shares during the period. Putnam Investments LLC lifted its holdings 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 worth $469,022,000 after buying an additional 6,587,066 shares in the last quarter. Lazard Asset Management LLC boosted its position 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 acquiring an additional 5,068,682 shares during the period. Finally, Legal & General Group Plc grew its stake in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after acquiring an additional 4,825,752 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

CRH has been the topic of a number of analyst reports. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. 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 research report on Friday, August 9th. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. DA Davidson upped their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Stephens assumed coverage on CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.70.

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.