Crh Plc $CRH Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly reduced its stake in CRH plc by 94.9% during the first quarter, dropping to 73,829 shares after selling over 1.3 million shares.
• In contrast, Dimensional Fund Advisors increased its holdings in CRH by 27.6%, now owning over 2.3 million shares, reflecting a mixed sentiment among institutional investors.
• CRH recently announced a quarterly dividend of $0.37 per share, which equates to an annualized yield of 1.3%, set to be paid to shareholders on September 24th.

Aberdeen Group plc lowered its stake in Crh Plc (NYSE:CRH - Free Report) by 94.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,829 shares of the construction company's stock after selling 1,365,455 shares during the period. Aberdeen Group plc's holdings in CRH were worth $6,420,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CRH. Orion Capital Management LLC bought a new stake in CRH during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new stake in CRH during the 4th quarter valued at $32,000. Park Square Financial Group LLC purchased a new stake in CRH during the 4th quarter valued at $32,000. Colonial Trust Co SC purchased a new stake in CRH during the 4th quarter valued at $37,000. Finally, GW&K Investment Management LLC increased its stake in shares of CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on CRH in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price objective for the company. Vertical Research raised shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Friday, August 8th. Finally, DA Davidson reissued a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $113.18.

CRH Price Performance

Shares of NYSE:CRH traded up $2.5360 during trading on Friday, reaching $113.2560. 2,965,952 shares of the company were exchanged, compared to its average volume of 4,818,760. The firm has a market capitalization of $76.18 billion, a PE ratio of 23.69, a P/E/G ratio of 1.46 and a beta of 1.26. The business's fifty day simple moving average is $98.10 and its 200-day simple moving average is $95.79. Crh Plc has a 12-month low of $76.75 and a 12-month high of $113.95.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results 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 company had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The business's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. On average, sell-side analysts anticipate that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

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

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.