Tectonic Advisors LLC Has $8.33 Million Stake in CRH plc (NYSE:CRH)

Tectonic Advisors LLC increased its holdings in shares of CRH plc (NYSE:CRH) by 14.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 89,852 shares of the construction company’s stock after acquiring an additional 11,009 shares during the period. Tectonic Advisors LLC’s holdings in CRH were worth $8,333,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Greenhaven Associates Inc. boosted its holdings in CRH by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock worth $1,034,540,000 after purchasing an additional 35,209 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CRH by 5.3% in the 2nd 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 purchasing an additional 431,172 shares during the period. Lazard Asset Management LLC lifted its stake in CRH by 35,497.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after purchasing an additional 5,068,682 shares during the last quarter. Legal & General Group Plc increased its position 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 worth $361,278,000 after buying an additional 4,825,752 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of CRH by 103.9% during the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRH. DA Davidson increased their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Truist Financial lifted their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup reduced their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.70.

CRH Trading Up 0.9 %

CRH stock opened at $91.60 on Friday. The stock has a 50-day moving average price of $89.40 and a 200-day moving average price of $82.85. CRH plc has a 1-year low of $51.59 and a 1-year high of $94.14. The firm has a market cap of $62.90 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30.

CRH (NYSE:CRH) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, analysts forecast that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

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