Catalyst Funds Management Pty Ltd Purchases 63,500 Shares of CRH plc (NYSE:CRH)

Catalyst Funds Management Pty Ltd lifted its position in CRH plc (NYSE:CRH) by 7,055.6% in the fourth quarter, Holdings Channel reports. The firm owned 64,400 shares of the construction company’s stock after acquiring an additional 63,500 shares during the period. CRH accounts for approximately 1.5% of Catalyst Funds Management Pty Ltd’s holdings, making the stock its 10th biggest position. Catalyst Funds Management Pty Ltd’s holdings in CRH were worth $5,958,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased 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 valued at $144,605,000 after purchasing an additional 114,072 shares during the period. Park Avenue Securities LLC increased its position 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 during the period. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $226,732,000 after acquiring an additional 232,977 shares during the last quarter. Merit Financial Group LLC lifted its position 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 acquiring an additional 5,610 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of 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. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. cut their price objective on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday. Berenberg Bank set a $120.00 target price on shares of CRH in a research report on Friday, February 28th. Finally, Citigroup cut their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. One equities 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 stock. Based on data from MarketBeat, CRH presently has a consensus rating of “Buy” and an average target price of $109.25.

CRH Trading Up 2.6 %

Shares of CRH opened at $97.08 on Friday. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The stock has a market cap of $65.71 billion, a P/E ratio of 19.42, a PEG ratio of 1.15 and a beta of 1.30. The company has a 50-day moving average of $99.37 and a two-hundred day moving average of $96.03.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be given a dividend of $0.37 per share. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, March 14th. CRH’s payout ratio is currently 20.87%.

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.