III Capital Management Grows Stock Holdings in CRH plc (NYSE:CRH)

III Capital Management increased its stake in CRH plc (NYSE:CRH) by 29.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,267 shares of the construction company’s stock after buying an additional 11,751 shares during the quarter. CRH makes up 0.4% of III Capital Management’s portfolio, making the stock its 24th biggest position. III Capital Management’s holdings in CRH were worth $4,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in CRH by 33.4% in the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after buying an additional 9,055,354 shares during the last quarter. Greenhaven Associates Inc. increased its position in shares of CRH by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock valued at $1,034,540,000 after acquiring an additional 35,209 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CRH by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after acquiring an additional 431,172 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CRH by 515.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after acquiring an additional 4,274,336 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after purchasing an additional 4,825,752 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

CRH Stock Down 0.4 %

CRH traded down $0.37 during trading on Tuesday, hitting $102.09. The company’s stock had a trading volume of 285,035 shares, compared to its average volume of 4,815,042. The business’s 50 day simple moving average is $95.37 and its 200-day simple moving average is $86.35. The firm has a market cap of $69.34 billion, a PE ratio of 20.49, a P/E/G ratio of 1.29 and a beta of 1.29. CRH plc has a one year low of $62.80 and a one year high of $104.19.

CRH Cuts Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CRH. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. HSBC started coverage on CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. DA Davidson raised their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Truist Financial boosted their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Barclays began coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CRH presently has a consensus rating of “Buy” and a consensus target price of $106.42.

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.