CRH Target of Unusually High Options Trading (NYSE:CRH)

Key Points

• CRH experienced a notable surge in options trading, with investors purchasing 6,946 call options—an increase of 168% from the daily average.
• Several analysts have upgraded CRH’s stock ratings, with Jefferies Financial Group and Vertical Research issuing "strong-buy" ratings and Bank of America setting a price target of $128.00.
• CRH recently announced a quarterly dividend of $0.37 per share, translating to an annualized dividend yield of 1.2%.

Crh Plc (NYSE:CRH - Get Free Report) saw unusually large options trading on Wednesday. Investors purchased 6,946 call options on the company. This is an increase of 168% compared to the average daily volume of 2,588 call options.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRH shares. Jefferies Financial Group raised CRH to a "strong-buy" rating in a report on Monday, September 22nd. Bank of America started coverage on CRH in a report on Friday, September 26th. They set a "buy" rating and a $128.00 price target for the company. Sanford C. Bernstein lifted their price target on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Vertical Research raised CRH to a "strong-buy" rating in a report on Friday, August 1st. Finally, Morgan Stanley reissued an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, CRH currently has an average rating of "Buy" and an average price target of $122.77.

CRH Stock Up 0.6%

CRH traded up $0.76 on Wednesday, hitting $120.66. 2,025,929 shares of the company traded hands, compared to its average volume of 5,333,406. The company has a 50 day moving average of $109.08 and a 200-day moving average of $97.94. The stock has a market capitalization of $81.16 billion, a PE ratio of 25.23, a PEG ratio of 1.66 and a beta of 1.31. CRH has a 12-month low of $76.75 and a 12-month high of $121.88.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.27 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts anticipate that CRH will post 5.47 EPS for the current year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were given a dividend of $0.37 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.2%. CRH's payout ratio is presently 23.22%.

Institutional Investors Weigh In On CRH

A number of institutional investors and hedge funds have recently modified their holdings of CRH. Creekmur Asset Management LLC acquired a new stake in shares of CRH in the 2nd quarter worth approximately $27,000. Park Place Capital Corp grew its holdings in shares of CRH by 59.9% in the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock worth $29,000 after acquiring an additional 115 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in CRH by 1,835.3% in the 2nd 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 in the last quarter. GW&K Investment Management LLC lifted its stake in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after buying an additional 208 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in CRH by 255.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company's stock valued at $39,000 after buying an additional 306 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

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.

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