CRH plc (NYSE:CRH) Sees Large Increase in Short Interest

CRH plc (NYSE:CRH) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 10,050,000 shares, an increase of 41.0% from the August 15th total of 7,130,000 shares. Based on an average daily volume of 6,490,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.5% of the shares of the company are sold short.

CRH Trading Up 1.0 %

CRH traded up $0.83 during trading hours on Friday, hitting $87.49. The company’s stock had a trading volume of 3,235,387 shares, compared to its average volume of 5,188,839. CRH has a 12 month low of $51.59 and a 12 month high of $91.02. The business’s 50-day moving average price is $83.30 and its 200-day moving average price is $81.50.

CRH (NYSE:CRH) last posted 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 the consensus estimate of $10.16 billion. Sell-side analysts expect that CRH will post 5.45 earnings per share for the current fiscal year.

CRH Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CRH shares. Morgan Stanley raised 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. Citigroup decreased their target price on 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 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. Stephens initiated coverage on shares of CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price objective on the stock. Finally, StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and an average price target of $95.70.

Hedge Funds Weigh In On CRH

A number of institutional investors and hedge funds have recently modified their holdings of CRH. GHP Investment Advisors Inc. lifted its position 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 buying an additional 259 shares during the last quarter. First Financial Corp IN purchased a new stake in shares of CRH in the first quarter valued at $26,000. NBC Securities Inc. lifted its holdings in shares of CRH by 71.5% in the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after acquiring an additional 173 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of CRH during the 2nd quarter worth about $43,000. Finally, Richardson Financial Services Inc. bought a new position in CRH during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.