Martingale Asset Management L P Purchases Shares of 13,193 CRH plc (NYSE:CRH)

Martingale Asset Management L P purchased a new stake in shares of CRH plc (NYSE:CRH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,193 shares of the construction company’s stock, valued at approximately $1,224,000.

Several other hedge funds have also bought and sold shares of CRH. Cetera Investment Advisers boosted its stake in shares of CRH by 286.4% in the first quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock worth $4,671,000 after acquiring an additional 40,135 shares during the period. Cetera Advisors LLC bought a new position in shares of CRH in the first quarter worth about $1,277,000. Transcend Capital Advisors LLC bought a new position in shares of CRH in the second quarter worth about $272,000. First Hawaiian Bank boosted its stake in shares of CRH by 8.1% in the second quarter. First Hawaiian Bank now owns 13,058 shares of the construction company’s stock worth $979,000 after acquiring an additional 975 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of CRH in the second quarter worth about $591,000. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH stock opened at $102.27 on Monday. CRH plc has a 1 year low of $62.45 and a 1 year high of $104.19. The stock’s 50 day simple moving average is $95.37 and its two-hundred day simple moving average is $86.35. The company has a market cap of $69.46 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.262 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 37.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CRH shares. Morgan Stanley upped their price objective on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. DA Davidson increased their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 11th. HSBC initiated coverage on CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $106.42.

CRH 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.