Crh Plc (NYSE:CRH) Short Interest Update

Key Points

• Short interest in CRH plc rose by 23.6% in August, reaching 13,190,000 shares, indicating increased bearish sentiment among investors.
• Equities research analysts generally maintain a positive outlook with a consensus rating of "Buy" and an average price target of $116.00 for CRH's stock.
• CRH has announced a quarterly dividend of $0.37 per share, with a yield of 1.3%, reinforcing its commitment to returning value to shareholders.

Crh Plc (NYSE:CRH - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 13,190,000 shares, a growth of 23.6% from the August 15th total of 10,670,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 4,120,000 shares, the days-to-cover ratio is presently 3.2 days. Based on an average trading volume of 4,120,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creekmur Asset Management LLC acquired a new position in shares of CRH during the second quarter worth about $27,000. Orion Capital Management LLC acquired a new position in shares of CRH in the fourth quarter worth about $28,000. Park Place Capital Corp increased its holdings in CRH by 59.9% in the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock valued at $29,000 after buying an additional 115 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in CRH by 1,835.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company's stock valued at $30,000 after buying an additional 312 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of CRH during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CRH. Sanford C. Bernstein increased their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. Vertical Research upgraded CRH to a "strong-buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. initiated coverage on CRH in a research note on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target on the stock. DA Davidson restated a "neutral" rating and set a $105.00 price target (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $112.00 price target (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $116.00.

CRH Price Performance

CRH stock traded up $0.59 during mid-day trading on Friday, hitting $113.05. 5,842,217 shares of the company were exchanged, compared to its average volume of 3,349,817. The business's 50 day simple moving average is $106.24 and its two-hundred day simple moving average is $97.06. The company has a market capitalization of $76.04 billion, a P/E ratio of 23.65, a PEG ratio of 1.47 and a beta of 1.31. CRH has a 12-month low of $76.75 and a 12-month high of $114.83.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The business had revenue of $10.21 billion during the quarter, compared to analysts' expectations of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. CRH's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 EPS. Equities research analysts predict that CRH will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio (DPR) is presently 23.22%.

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.