Mitsubishi UFJ Asset Management Co. Ltd. Purchases 62,207 Shares of Crh Plc (NYSE:CRH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in CRH Plc by 12.7%, owning approximately 551,996 shares worth $48.56 million as of its latest SEC filing.
• CRH's last quarterly earnings report revealed $1.94 earnings per share, which missed analysts' expectations, with a revenue of $10.21 billion—also slightly lower than consensus estimates.
• Several analysts recently reaffirmed positive ratings for CRH shares, with a consensus rating of "Buy" and a price target averaging $113.18.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Crh Plc (NYSE:CRH - Free Report) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 551,996 shares of the construction company's stock after acquiring an additional 62,207 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of CRH worth $48,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Martingale Asset Management L P boosted its position in CRH by 17.2% in the fourth quarter. Martingale Asset Management L P now owns 15,461 shares of the construction company's stock valued at $1,430,000 after buying an additional 2,268 shares in the last quarter. Raymond James Financial Inc. acquired a new position in CRH in the fourth quarter valued at about $41,407,000. CenterBook Partners LP acquired a new position in CRH in the fourth quarter valued at about $1,045,000. Scotia Capital Inc. boosted its position in CRH by 1.3% in the fourth quarter. Scotia Capital Inc. now owns 62,621 shares of the construction company's stock valued at $5,794,000 after buying an additional 829 shares in the last quarter. Finally, Covestor Ltd boosted its position in CRH by 20.4% in the fourth quarter. Covestor Ltd now owns 755 shares of the construction company's stock valued at $70,000 after buying an additional 128 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Stock Up 4.4%

Shares of NYSE:CRH traded up $4.73 during midday trading on Tuesday, hitting $112.15. The stock had a trading volume of 7,540,199 shares, compared to its average volume of 4,542,755. The company's 50-day moving average price is $94.92 and its 200-day moving average price is $95.07. The company has a market capitalization of $75.77 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $112.19.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) 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 the consensus estimate of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. Research analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

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 dividend of $0.37 per share. 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 payout ratio is presently 23.22%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price target (up from $108.00) on shares of CRH in a research report on Friday. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a research report on Friday. DA Davidson reiterated a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Finally, 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 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $113.18.

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.