IMS Capital Management Acquires New Position in Crh Plc $CRH

Key Points

• IMS Capital Management recently acquired a new stake in Crh Plc, buying 10,600 shares valued at approximately $973,000.
• Analysts have issued positive ratings for CRH, with several targeting prices between $112.00 and $130.00 and a consensus rating of "Buy."
• CRH reported an earnings miss for the last quarter, with EPS of $1.94 compared to the expected $2.06, alongside an increase in revenue of 5.7% year-over-year.

IMS Capital Management acquired a new stake in Crh Plc (NYSE:CRH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,600 shares of the construction company's stock, valued at approximately $973,000.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CRH by 10.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,815 shares of the construction company's stock valued at $445,000 after purchasing an additional 441 shares during the period. Armis Advisers LLC bought a new stake in CRH during the 4th quarter valued at $233,000. Heck Capital Advisors LLC purchased a new stake in shares of CRH in the 4th quarter worth $32,000. Park Square Financial Group LLC purchased a new stake in shares of CRH in the 4th quarter worth $32,000. Finally, Siemens Fonds Invest GmbH grew its position in shares of CRH by 10.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 27,769 shares of the construction company's stock worth $2,568,000 after buying an additional 2,522 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRH shares. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price objective (up from $108.00) on shares of CRH in a report on Friday, August 8th. JPMorgan Chase & Co. assumed coverage on shares of CRH in a report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target for the company. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. Sanford C. Bernstein lifted their price objective on shares of CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Finally, Morgan Stanley reissued an "overweight" rating on shares of CRH in a research note on Tuesday, September 2nd. Two 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $116.00.

CRH Stock Down 0.6%

Shares of CRH stock opened at $114.03 on Wednesday. The company has a market cap of $76.71 billion, a P/E ratio of 23.86, a PEG ratio of 1.49 and a beta of 1.31. The firm's 50 day moving average price is $107.03 and its 200-day moving average price is $97.29. Crh Plc has a 52-week low of $76.75 and a 52-week high of $116.36.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results 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 firm had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The company's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. As a group, equities research analysts forecast that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be given 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 dividend yield of 1.3%. CRH's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.