CRH (NYSE:CRH) Now Covered by Analysts at Loop Capital

Loop Capital began coverage on shares of CRH (NYSE:CRH) in a research note released on Wednesday,Benzinga reports. The firm issued a buy rating and a $114.00 target price on the construction company’s stock.

A number of other brokerages have also issued reports on CRH. Berenberg Bank set a $120.00 price target on CRH in a research note on Friday, February 28th. Citigroup reduced their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Finally, StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $110.00.

CRH Stock Performance

CRH stock traded down $4.52 during trading on Wednesday, reaching $84.51. The company had a trading volume of 4,874,167 shares, compared to its average volume of 5,598,567. The firm has a market capitalization of $57.15 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The firm’s 50-day simple moving average is $96.96 and its 200 day simple moving average is $96.35. CRH has a 1-year low of $71.18 and a 1-year high of $110.97.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 dividend on an annualized basis and a yield of 1.75%. CRH’s dividend payout ratio is 22.66%.

Institutional Trading of CRH

Hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in CRH by 7.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock worth $144,605,000 after acquiring an additional 114,072 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of CRH by 22.1% during the fourth quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock worth $3,012,000 after purchasing an additional 5,889 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in CRH by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock valued at $226,732,000 after buying an additional 232,977 shares in the last quarter. Merit Financial Group LLC lifted its holdings in CRH by 31.8% during the 4th quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock worth $2,151,000 after buying an additional 5,610 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of CRH by 19.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock worth $6,733,000 after acquiring an additional 12,076 shares in the last quarter. 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.