CRH (NYSE:CRH) Reaches New 1-Year High – Here’s What Happened

CRH plc (NYSE:CRH)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $102.76 and last traded at $102.71, with a volume of 888956 shares trading hands. The stock had previously closed at $101.40.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRH shares. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley increased their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, DA Davidson raised their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $106.42.

CRH Price Performance

The stock has a market cap of $69.82 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.28 and a beta of 1.29. The business has a 50-day simple moving average of $94.21 and a two-hundred day simple moving average of $85.67.

CRH Cuts Dividend

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

Hedge Funds Weigh In On CRH

Institutional investors and hedge funds have recently modified their holdings of the stock. Deseret Mutual Benefit Administrators acquired a new stake in shares of CRH during the third quarter worth $25,000. UMB Bank n.a. raised its holdings in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of CRH during the 3rd quarter worth $35,000. Finally, Baillie Gifford & Co. increased its position in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.