Martin Currie Ltd. Reduces Stock Position in CRH plc (NYSE:CRH)

Martin Currie Ltd. trimmed its stake in shares of CRH plc (NYSE:CRH) by 9.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 281,500 shares of the construction company’s stock after selling 30,500 shares during the period. Martin Currie Ltd.’s holdings in CRH were worth $26,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRH. Arkadios Wealth Advisors lifted its holdings in shares of CRH by 4.9% during the 4th quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock valued at $216,000 after buying an additional 109 shares during the period. Parallel Advisors LLC boosted its holdings in shares of CRH by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock worth $630,000 after buying an additional 129 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of CRH by 3.2% during the 4th quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock valued at $405,000 after acquiring an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of CRH by 18.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock valued at $90,000 after buying an additional 150 shares in the last quarter. Finally, Manitou Investment Management Ltd. grew its stake in shares of CRH by 1.4% during the 4th quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock valued at $1,037,000 after acquiring an additional 160 shares during the period. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Citigroup cut their price target on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 price target on CRH in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, CRH presently has a consensus rating of “Buy” and an average target price of $109.64.

CRH Stock Down 4.4 %

CRH stock opened at $88.09 on Friday. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The firm has a market capitalization of $59.57 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The company has a fifty day simple moving average of $99.77 and a two-hundred day simple moving average of $96.68.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, March 14th. CRH’s payout ratio is presently 15.51%.

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.