CRH PLC (NYSE:CRH) Shares Sold by JCP Investment Management LLC

Key Points

• JCP Investment Management LLC reduced its holdings in CRH Plc by 29.8% in the first quarter, now owning 91,079 shares valued at approximately $8 million.
• CRH reported earnings of ($0.12) per share, missing analyst expectations of ($0.06), and had revenues of $6.76 billion for the quarter.
• The company announced a quarterly dividend of $0.37 per share, resulting in an annualized dividend of $1.48 and a yield of 1.6%.

JCP Investment Management LLC decreased its stake in CRH PLC (NYSE:CRH - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,079 shares of the construction company's stock after selling 38,750 shares during the period. CRH accounts for about 5.0% of JCP Investment Management LLC's holdings, making the stock its 11th biggest position. JCP Investment Management LLC's holdings in CRH were worth $8,022,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in CRH in the fourth quarter valued at $28,000. Heck Capital Advisors LLC bought a new stake in shares of CRH during the 4th quarter valued at about $32,000. Park Square Financial Group LLC bought a new position in shares of CRH in the 4th quarter worth approximately $32,000. Colonial Trust Co SC purchased a new stake in shares of CRH in the 4th quarter worth about $37,000. Finally, GW&K Investment Management LLC grew its position in shares of CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after buying an additional 208 shares during the period. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CRH shares. 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 objective on the stock. Loop Capital started coverage on shares of CRH in a research report on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective on the stock. DA Davidson reissued a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating on shares of CRH in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.82.

CRH Price Performance

Shares of CRH traded down $0.14 on Friday, reaching $95.31. The company's stock had a trading volume of 2,876,251 shares, compared to its average volume of 3,708,544. CRH PLC has a 12-month low of $74.03 and a 12-month high of $110.97. The stock has a market capitalization of $64.40 billion, a P/E ratio of 20.19, a PEG ratio of 1.23 and a beta of 1.26. The stock's 50 day simple moving average is $93.24 and its two-hundred day simple moving average is $94.81.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.77 billion. CRH had a return on equity of 15.88% and a net margin of 9.17%. Analysts expect that CRH PLC will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Friday, May 23rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, May 23rd. CRH's dividend payout ratio is 23.52%.

About CRH

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.