Caitong International Asset Management Co. Ltd Invests $360,000 in Crh Plc (NYSE:CRH)

Key Points

• Caitong International Asset Management Co. Ltd has invested $360,000 in Crh Plc, acquiring 4,087 shares during the first quarter.
• CRH has received multiple analyst upgrades, with Vertical Research rating it a "strong-buy" and an average target price now set at $113.18.
• The company recently announced a quarterly dividend of $0.37 per share, reflecting an annual yield of 1.3% and a payout ratio of 23.22%.

Caitong International Asset Management Co. Ltd purchased a new stake in Crh Plc (NYSE:CRH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,087 shares of the construction company's stock, valued at approximately $360,000.

A number of other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in CRH in the 4th quarter valued at $28,000. Park Square Financial Group LLC purchased a new position in CRH in the fourth quarter worth about $32,000. Heck Capital Advisors LLC purchased a new stake in shares of CRH during the 4th quarter worth approximately $32,000. Colonial Trust Co SC purchased a new stake in shares of CRH during the 4th quarter worth $37,000. Finally, GW&K Investment Management LLC grew its holdings in CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after acquiring an additional 208 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRH shares. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $112.00 price objective (up previously from $108.00) on shares of CRH in a research report on Friday. 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 target on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Friday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $113.18.

CRH Stock Up 4.4%

CRH stock opened at $112.15 on Wednesday. The company has a fifty day simple moving average of $94.92 and a 200-day simple moving average of $95.07. Crh Plc has a 52-week low of $76.75 and a 52-week high of $112.19. The firm has a market capitalization of $75.77 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.38 and a beta of 1.26.

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

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date of this dividend 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 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.

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