Magnetar Financial LLC Invests $6.49 Million in Crh Plc $CRH

Key Points

• Magnetar Financial LLC has invested approximately $6.49 million in Crh Plc, acquiring 73,729 shares during the first quarter.
• CRH reported earnings per share of $1.94 for the last quarter, missing expectations of $2.06, while its revenue grew 5.7% year-over-year.
• The company announced a quarterly dividend of $0.37 per share, representing an annualized dividend of $1.48 and a yield of 1.3%.

Magnetar Financial LLC acquired a new position in Crh Plc (NYSE:CRH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 73,729 shares of the construction company's stock, valued at approximately $6,486,000.

Other hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in CRH in the 1st quarter worth approximately $744,000. Massachusetts Financial Services Co. MA increased its position in shares of CRH by 43.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after purchasing an additional 3,108,416 shares during the last quarter. Hsbc Holdings PLC increased its stake in CRH by 100.2% in the first quarter. Hsbc Holdings PLC now owns 452,776 shares of the construction company's stock worth $39,318,000 after purchasing an additional 226,602 shares during the period. GAMMA Investing LLC raised its position in CRH by 27.4% during the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company's stock valued at $169,000 after purchasing an additional 413 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of CRH by 8.6% in the 1st quarter. National Pension Service now owns 2,154,053 shares of the construction company's stock valued at $189,492,000 after acquiring an additional 170,702 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Stock Down 1.6%

CRH stock traded down $1.79 during trading on Tuesday, hitting $111.16. The company had a trading volume of 3,997,856 shares, compared to its average volume of 5,518,084. The firm has a 50-day moving average price of $100.97 and a 200-day moving average price of $96.08. The firm has a market cap of $74.77 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Crh Plc has a 1-year low of $76.75 and a 1-year high of $114.40.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm had revenue of $10.21 billion during the quarter, compared to analysts' expectations of $10.27 billion. During the same period in the previous year, the business earned $1.88 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Sell-side analysts anticipate 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 will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. CRH's dividend payout ratio is presently 23.22%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Friday, August 8th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. Vertical Research raised shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. DA Davidson reaffirmed a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. initiated 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $114.64.

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.