CRH (NYSE:CRH) Shares Gap Down – Time to Sell?

CRH plc (NYSE:CRH)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $97.51, but opened at $92.40. CRH shares last traded at $92.91, with a volume of 2,821,778 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. HSBC assumed coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. Citigroup decreased their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $109.42.

CRH Stock Down 3.9 %

The firm has a market cap of $63.66 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.15 and a beta of 1.30. The business has a fifty day simple moving average of $99.06 and a 200-day simple moving average of $95.90.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 1.58%. This is a boost from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio (DPR) is currently 20.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in shares of CRH by 10.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,172 shares of the construction company’s stock valued at $201,000 after purchasing an additional 202 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of CRH by 40.7% during the third quarter. Janney Montgomery Scott LLC now owns 52,157 shares of the construction company’s stock valued at $4,837,000 after purchasing an additional 15,094 shares during the period. QRG Capital Management Inc. grew its stake in CRH by 9.9% in the 3rd quarter. QRG Capital Management Inc. now owns 5,850 shares of the construction company’s stock worth $543,000 after acquiring an additional 525 shares in the last quarter. Graypoint LLC purchased a new stake in shares of CRH in the third quarter valued at approximately $292,000. Finally, CWA Asset Management Group LLC bought a new position in CRH in the third quarter worth approximately $498,000. Institutional investors own 62.50% of the company’s stock.

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.