III Capital Management Increases Stake in CRH plc (NYSE:CRH)

III Capital Management lifted its holdings in shares of CRH plc (NYSE:CRH) by 29.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,267 shares of the construction company’s stock after purchasing an additional 11,751 shares during the period. CRH comprises about 0.4% of III Capital Management’s investment portfolio, making the stock its 24th biggest position. III Capital Management’s holdings in CRH were worth $4,847,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators purchased a new position in shares of CRH in the third quarter worth about $25,000. UMB Bank n.a. grew its position in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. GHP Investment Advisors Inc. increased its stake 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 during the period. Meeder Asset Management Inc. bought a new stake in CRH in the third quarter valued at approximately $35,000. Finally, Baillie Gifford & Co. boosted its stake in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRH. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley upped their price objective on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. HSBC initiated coverage on CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. Finally, DA Davidson boosted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $106.42.

CRH Price Performance

CRH stock traded down $0.37 during midday trading on Tuesday, hitting $102.09. The stock had a trading volume of 285,035 shares, compared to its average volume of 4,815,042. The business has a 50-day moving average of $95.37 and a two-hundred day moving average of $86.35. The firm has a market cap of $69.34 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. CRH plc has a 52-week low of $62.80 and a 52-week high of $104.19.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a $0.262 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio is presently 37.20%.

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.