CDAM UK Ltd Takes Position in Crh Plc $CRH

Key Points

• CDAM UK Ltd acquired 616,566 shares of CRH Plc worth approximately $54.2 million, making it the company's 7th largest position, holding 8.8% of its portfolio.
• CRH's recent quarterly earnings report showed earnings of $1.94 per share, below the projected $2.06, though revenue increased by 5.7% year-over-year.
• The company recently declared a quarterly dividend of $0.37 per share, yielding 1.3%, with a payout ratio of 23.22%.

CDAM UK Ltd acquired a new stake in shares of Crh Plc (NYSE:CRH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 616,566 shares of the construction company's stock, valued at approximately $54,239,000. CRH makes up 8.8% of CDAM UK Ltd's investment portfolio, making the stock its 7th largest position. CDAM UK Ltd owned approximately 0.09% of CRH at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of CRH by 62.8% during the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock valued at $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after acquiring an additional 3,108,416 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CRH by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company's stock valued at $776,818,000 after acquiring an additional 221,038 shares in the last quarter. Boston Partners lifted its stake in CRH by 5.9% in the 1st quarter. Boston Partners now owns 8,822,801 shares of the construction company's stock valued at $775,349,000 after acquiring an additional 493,796 shares in the last quarter. Finally, Nuveen LLC bought a new stake in CRH in the 1st quarter valued at approximately $597,888,000. Institutional investors own 62.50% of the company's stock.

CRH Price Performance

NYSE CRH traded up $2.5360 on Friday, reaching $113.2560. The stock had a trading volume of 2,965,952 shares, compared to its average volume of 5,563,972. The firm has a fifty day moving average of $97.64 and a two-hundred day moving average of $95.72. Crh Plc has a 1-year low of $76.75 and a 1-year high of $113.95. The company has a market cap of $76.18 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last issued 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). CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts predict that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's dividend payout ratio is currently 23.22%.

Analyst Upgrades and Downgrades

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

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.