Kornitzer Capital Management Inc. KS Purchases 1,661 Shares of CRH plc (NYSE:CRH)

Kornitzer Capital Management Inc. KS lifted its position in CRH plc (NYSE:CRH) by 0.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 235,261 shares of the construction company’s stock after buying an additional 1,661 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in CRH were worth $17,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Simon Quick Advisors LLC acquired a new stake in CRH in the 2nd quarter worth approximately $250,000. Rhumbline Advisers lifted its holdings in shares of CRH by 579.9% during the second quarter. Rhumbline Advisers now owns 712,784 shares of the construction company’s stock worth $53,445,000 after buying an additional 607,948 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of CRH by 27.0% during the second quarter. CIBC Asset Management Inc now owns 23,236 shares of the construction company’s stock worth $1,742,000 after buying an additional 4,945 shares during the last quarter. Summit Financial LLC lifted its holdings in shares of CRH by 4.1% during the second quarter. Summit Financial LLC now owns 18,407 shares of the construction company’s stock worth $1,380,000 after buying an additional 731 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its holdings in shares of CRH by 27.8% during the second quarter. Essex Financial Services Inc. now owns 4,405 shares of the construction company’s stock worth $330,000 after buying an additional 958 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Down 2.5 %

CRH stock traded down $2.13 during midday trading on Thursday, reaching $83.05. The stock had a trading volume of 2,494,535 shares, compared to its average volume of 5,202,236. The firm’s fifty day simple moving average is $81.62 and its 200-day simple moving average is $81.14. CRH plc has a 1-year low of $51.59 and a 1-year high of $91.02.

CRH (NYSE:CRH) last announced its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, analysts predict that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd will be paid a $0.35 dividend. The ex-dividend date is Friday, August 23rd. This represents a yield of 1.7%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Royal Bank of Canada started coverage on CRH in a report on Tuesday, May 14th. They set an “outperform” rating and a $110.00 target price on the stock. Truist Financial increased their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, Stephens started coverage on CRH in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, CRH currently 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.