Crh Plc $CRH Shares Acquired by Drummond Knight Asset Management Pty Ltd

Key Points

• Drummond Knight Asset Management Pty Ltd increased its stake in CRH Plc by 111.3% during the first quarter, now holding 320,842 shares valued at approximately $28.2 million, making CRH the firm's second-largest investment.
• Several analysts have upgraded ratings for CRH, with Vertical Research initiating a "strong-buy" rating and Sanford C. Bernstein raising their price target from $115 to $130, indicating strong market confidence in the stock.
• CRH announced a quarterly dividend of $0.37 per share, set to be paid on September 24th, resulting in an annualized yield of 1.3% and a payout ratio of 23.22%.

Drummond Knight Asset Management Pty Ltd grew its position in Crh Plc (NYSE:CRH - Free Report) by 111.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 320,842 shares of the construction company's stock after acquiring an additional 168,995 shares during the period. CRH comprises approximately 14.2% of Drummond Knight Asset Management Pty Ltd's investment portfolio, making the stock its 2nd biggest position. Drummond Knight Asset Management Pty Ltd's holdings in CRH were worth $28,224,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CRH. Orion Capital Management LLC acquired a new position in shares of CRH in the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in shares of CRH during the 4th quarter worth about $32,000. Park Square Financial Group LLC acquired a new position in shares of CRH during the 4th quarter worth about $32,000. GW&K Investment Management LLC raised its position in shares of CRH by 86.7% during the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after purchasing an additional 208 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of CRH during the 1st quarter worth about $47,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRH shares. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. DA Davidson restated 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. JPMorgan Chase & Co. started coverage on shares of CRH in a research report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target for the company. Sanford C. Bernstein upped their price target on shares of CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $116.00.

CRH Trading Up 2.9%

CRH stock opened at $114.52 on Friday. The company has a market cap of $77.03 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.44 and a beta of 1.31. Crh Plc has a 12 month low of $76.75 and a 12 month high of $114.55. The firm has a 50-day moving average of $104.15 and a two-hundred day moving average of $96.60.

CRH (NYSE:CRH - Get Free Report) last released 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). The business had revenue of $10.21 billion during 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 was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 EPS. As a group, equities analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The firm 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. The ex-dividend date 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 is presently 23.22%.

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.

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