CRH plc (NYSE:CRH) Short Interest Up 26.4% in December

CRH plc (NYSE:CRH) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 12,210,000 shares, a growth of 26.4% from the November 30th total of 9,660,000 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,670,000 shares, the short-interest ratio is presently 3.3 days.

Analysts Set New Price Targets

CRH has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. DA Davidson lifted their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Truist Financial upped their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Barclays began coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target for the company. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CRH currently has a consensus rating of “Buy” and a consensus price target of $106.42.

CRH Stock Down 1.2 %

Shares of CRH stock opened at $92.46 on Tuesday. The company has a market cap of $62.80 billion, a P/E ratio of 18.49, a PEG ratio of 1.25 and a beta of 1.29. CRH has a 52-week low of $65.74 and a 52-week high of $104.23. The firm’s 50 day moving average price is $97.95 and its 200-day moving average price is $88.97.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were given a $0.262 dividend. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is 21.00%.

Institutional Investors Weigh In On CRH

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its position in shares of CRH by 168.7% in the 3rd quarter. Tidal Investments LLC now owns 22,089 shares of the construction company’s stock valued at $2,049,000 after purchasing an additional 13,868 shares during the last quarter. LGT Group Foundation lifted its position in CRH by 8,189.3% during the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after acquiring an additional 1,580,527 shares during the period. M&T Bank Corp grew its stake in CRH by 78.8% during the 3rd quarter. M&T Bank Corp now owns 49,825 shares of the construction company’s stock valued at $4,620,000 after purchasing an additional 21,962 shares during the last quarter. CWM LLC increased its holdings in shares of CRH by 91.2% in the third quarter. CWM LLC now owns 4,064 shares of the construction company’s stock valued at $377,000 after purchasing an additional 1,938 shares during the period. Finally, Boston Financial Mangement LLC purchased a new position in CRH during the 3rd quarter worth approximately $24,784,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

About CRH

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.