Bank of New York Mellon Corp Purchases 221,038 Shares of Crh Plc (NYSE:CRH)

Bank of New York Mellon Corp grew its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,830,489 shares of the construction company's stock after purchasing an additional 221,038 shares during the period. Bank of New York Mellon Corp owned approximately 1.31% of CRH worth $776,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRH. Orion Capital Management LLC bought a new stake in shares of CRH during the 4th quarter valued at $28,000. Heck Capital Advisors LLC purchased a new stake in shares of CRH in the 4th quarter worth approximately $32,000. Park Square Financial Group LLC purchased a new position in CRH during the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. grew its stake in shares of CRH by 214.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock worth $33,000 after acquiring an additional 240 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new position in shares of CRH in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Sanford C. Bernstein started coverage on shares of CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Royal Bank Of Canada lowered their price target on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Loop Capital initiated coverage on CRH in a report on Wednesday, April 9th. They issued a "buy" rating and a $114.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $114.18.

CRH Trading Down 0.6%

CRH stock traded down $0.61 during trading on Monday, reaching $94.33. The company had a trading volume of 2,804,412 shares, compared to its average volume of 4,924,390. The firm's 50-day simple moving average is $93.39 and its 200 day simple moving average is $94.49. Crh Plc has a 52 week low of $74.02 and a 52 week high of $110.97. The firm has a market capitalization of $63.73 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. On average, analysts predict that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. CRH's dividend payout ratio (DPR) is presently 23.52%.

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.