Concentric Capital Strategies LP Sells 22,017 Shares of Crh Plc $CRH

Key Points

• Concentric Capital Strategies LP reduced its stake in CRH Plc by 55.5% during Q1, now holding 17,637 shares valued at $1,552,000 after selling 22,017 shares.
• CRH's quarterly earnings reported an EPS of $1.94, missing expectations, with revenue of $10.21 billion, a slight increase from the previous year.
• The company announced a quarterly dividend of $0.37 per share, with a payout ratio of 23.22%, to be paid on September 24th.

Concentric Capital Strategies LP trimmed its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 55.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,637 shares of the construction company's stock after selling 22,017 shares during the period. Concentric Capital Strategies LP's holdings in CRH were worth $1,552,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of CRH by 26.2% during the 1st quarter. AQR Capital Management LLC now owns 2,173,805 shares of the construction company's stock worth $186,665,000 after acquiring an additional 451,019 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of CRH by 3.6% during the 1st quarter. Advisors Asset Management Inc. now owns 91,024 shares of the construction company's stock worth $8,007,000 after acquiring an additional 3,185 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of CRH by 25.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 184,070 shares of the construction company's stock worth $16,193,000 after acquiring an additional 37,032 shares during the period. Amundi lifted its holdings in shares of CRH by 11.8% during the 1st quarter. Amundi now owns 7,979,264 shares of the construction company's stock worth $689,009,000 after acquiring an additional 843,806 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in shares of CRH by 2.4% during the 1st quarter. Ancora Advisors LLC now owns 191,973 shares of the construction company's stock worth $16,888,000 after acquiring an additional 4,551 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Stock Performance

Shares of NYSE CRH traded down $1.11 during trading on Tuesday, reaching $110.95. The company had a trading volume of 1,376,746 shares, compared to its average volume of 5,442,724. Crh Plc has a 52 week low of $76.75 and a 52 week high of $114.40. The stock has a market cap of $74.63 billion, a PE ratio of 23.21, a PEG ratio of 1.46 and a beta of 1.31. The business's 50 day moving average price is $103.09 and its 200-day moving average price is $96.30.

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

CRH Dividend Announcement

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

Wall Street Analyst Weigh In

CRH has been the subject of a number of analyst reports. Sanford C. Bernstein began coverage on shares of CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. DA Davidson reissued a "neutral" rating and set a $105.00 price target (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating and set a $112.00 price target (up from $108.00) on shares of CRH in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. started coverage on shares of CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, CRH presently has an average rating of "Buy" and an average price target of $114.64.

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.