CRH plc (NYSE:CRH) Shares Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP lifted its stake in shares of CRH plc (NYSE:CRH) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 143,258 shares of the construction company’s stock after buying an additional 2,177 shares during the quarter. CRH comprises about 2.0% of Dark Forest Capital Management LP’s investment portfolio, making the stock its 2nd biggest position. Dark Forest Capital Management LP’s holdings in CRH were worth $13,254,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in CRH by 7.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock worth $144,605,000 after purchasing an additional 114,072 shares in the last quarter. Park Avenue Securities LLC raised its holdings in CRH by 22.1% in the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock valued at $3,012,000 after acquiring an additional 5,889 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CRH by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock worth $226,732,000 after purchasing an additional 232,977 shares in the last quarter. Merit Financial Group LLC increased its position in shares of CRH by 31.8% in the fourth quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock worth $2,151,000 after purchasing an additional 5,610 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in CRH by 19.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock worth $6,733,000 after purchasing an additional 12,076 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRH. JPMorgan Chase & Co. cut their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Loop Capital assumed coverage on CRH in a research report on Wednesday, April 9th. They issued a “buy” rating and a $114.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $112.36.

CRH Stock Down 2.2 %

Shares of NYSE:CRH opened at $82.86 on Tuesday. The firm has a market cap of $56.04 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.15 and a beta of 1.30. The business has a fifty day simple moving average of $94.21 and a 200 day simple moving average of $96.02. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. 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 dividend yield of 1.79%. The ex-dividend date was Friday, March 14th. CRH’s dividend payout ratio is currently 22.66%.

CRH 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.