Martin Currie Ltd. Lowers Position in Crh Plc $CRH

Key Points

• Martin Currie Ltd. reduced its stake in Crh Plc by 18.5%, now holding 229,500 shares valued at approximately $20.11 million after selling 52,000 shares in the first quarter.
• CRH reported $1.94 earnings per share for the last quarter, missing analysts' estimates, though revenue increased by 5.7% year-over-year to $10.21 billion.
• The company announced a quarterly dividend of $0.37 per share, translating to an annualized dividend of $1.48 and a yield of 1.3%.

Martin Currie Ltd. cut its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,500 shares of the construction company's stock after selling 52,000 shares during the quarter. Martin Currie Ltd.'s holdings in CRH were worth $20,113,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Diversify Advisory Services LLC boosted its stake in CRH by 5.0% in the 1st quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock worth $240,000 after purchasing an additional 123 shares during the period. Callan Family Office LLC boosted its stake in CRH by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,074 shares of the construction company's stock worth $270,000 after purchasing an additional 129 shares during the period. Yousif Capital Management LLC raised its holdings in shares of CRH by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock worth $721,000 after acquiring an additional 139 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of CRH by 0.9% during the 1st quarter. Fifth Third Bancorp now owns 15,257 shares of the construction company's stock worth $1,342,000 after acquiring an additional 140 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of CRH by 1.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,387 shares of the construction company's stock worth $914,000 after acquiring an additional 141 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Performance

CRH stock traded down $1.7580 during trading on Wednesday, reaching $110.6820. 1,224,207 shares of the company traded hands, compared to its average volume of 5,585,297. Crh Plc has a 12 month low of $76.75 and a 12 month high of $113.95. The business has a 50 day simple moving average of $96.89 and a 200 day simple moving average of $95.53. The company has a market capitalization of $74.45 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The company had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the previous year, the business earned $1.88 EPS. CRH's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts forecast that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be paid 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 (DPR) is 23.22%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRH shares. Sanford C. Bernstein started coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $112.00 price objective (up from $108.00) on shares of CRH in a report on Friday, August 8th. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Friday, August 8th. Vertical Research upgraded CRH to a "strong-buy" rating in a research note on Friday, August 1st. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $113.18.

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.