International Assets Investment Management LLC Invests $7.90 Million in CRH plc (NYSE:CRH)

International Assets Investment Management LLC bought a new position in shares of CRH plc (NYSE:CRH) in the 3rd quarter, HoldingsChannel reports. The fund bought 85,135 shares of the construction company’s stock, valued at approximately $7,895,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRH. GHP Investment Advisors Inc. grew its position in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. UMB Bank n.a. grew its position in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. Rothschild Investment LLC bought a new stake in CRH in the 2nd quarter worth about $43,000. Quarry LP bought a new stake in CRH in the 2nd quarter worth about $49,000. Finally, Blue Trust Inc. grew its position in CRH by 341.7% in the 2nd quarter. Blue Trust Inc. now owns 848 shares of the construction company’s stock worth $64,000 after purchasing an additional 656 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRH shares. Truist Financial boosted their target price on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Citigroup dropped 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. DA Davidson boosted their target price on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

CRH Trading Down 0.5 %

Shares of CRH stock opened at $95.45 on Friday. CRH plc has a 12 month low of $53.42 and a 12 month high of $96.82. The stock has a market cap of $65.16 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.30 and a beta of 1.30. The company has a 50 day simple moving average of $90.38 and a two-hundred day simple moving average of $83.28.

CRH (NYSE:CRH) last posted its quarterly 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 firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities analysts forecast that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were paid a $0.35 dividend. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 23rd. CRH’s dividend payout ratio is currently 26.46%.

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.