Commerce Bank Purchases Shares of 3,227 Crh Plc (NYSE:CRH)

Key Points

• Commerce Bank has acquired 3,227 shares of CRH Plc valued at approximately $284,000, indicating increasing interest in the construction company among institutional investors.
• CRH reported
• The company has announced a quarterly dividend of $0.37 per share, payable on September 24th, with a current annualized dividend yield of 1.4% and a payout ratio of 23.22%.

Commerce Bank purchased a new stake in shares of Crh Plc (NYSE:CRH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,227 shares of the construction company's stock, valued at approximately $284,000.

Other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors raised its stake in shares of CRH by 13.4% in the fourth quarter. World Investment Advisors now owns 2,558 shares of the construction company's stock worth $237,000 after acquiring an additional 302 shares during the last quarter. Cerity Partners LLC raised its stake in shares of CRH by 43.0% in the fourth quarter. Cerity Partners LLC now owns 169,248 shares of the construction company's stock worth $15,667,000 after acquiring an additional 50,881 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of CRH by 17.2% in the fourth quarter. Martingale Asset Management L P now owns 15,461 shares of the construction company's stock worth $1,430,000 after acquiring an additional 2,268 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of CRH in the fourth quarter worth about $41,407,000. Finally, CenterBook Partners LP bought a new position in shares of CRH in the fourth quarter worth about $1,045,000. 62.50% of the stock is owned by institutional investors.

CRH Stock Up 3.2%

NYSE CRH traded up $3.41 during trading on Tuesday, reaching $110.83. 1,634,592 shares of the stock traded hands, compared to its average volume of 5,612,605. The firm has a market cap of $74.88 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The stock's 50-day moving average price is $94.50 and its 200 day moving average price is $94.95. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $110.97.

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

CRH Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be paid 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 payout ratio is presently 23.22%.

Analysts Set New Price Targets

CRH has been the subject of a number of research analyst reports. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 target price (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Sanford C. Bernstein started coverage on shares of CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 price target (up previously from $108.00) on shares of CRH in a research report on Friday. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price 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.