2,831 Shares in Crh Plc $CRH Purchased by Summit Securities Group LLC

Key Points

• Summit Securities Group LLC made a new investment of approximately $249,000 in CRH Plc, acquiring 2,831 shares of the construction company's stock in the first quarter.
• CRH reported a missed earnings per share estimate of $1.94 for the quarter, below the expected $2.06, and a quarterly revenue of $10.21 billion, which was slightly less than the anticipated $10.27 billion.
• The company has announced a quarterly dividend of $0.37 per share to be paid on September 24th, representing an annualized yield of 1.3%.

Summit Securities Group LLC bought a new stake in Crh Plc (NYSE:CRH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,831 shares of the construction company's stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRH. Makena Capital Management LLC grew its stake in CRH by 40.6% in the first quarter. Makena Capital Management LLC now owns 156,299 shares of the construction company's stock valued at $13,750,000 after purchasing an additional 45,163 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of CRH by 18.7% in the 1st quarter. Raymond James Financial Inc. now owns 531,365 shares of the construction company's stock valued at $46,744,000 after buying an additional 83,820 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of CRH by 4.6% in the 1st quarter. Cresset Asset Management LLC now owns 11,327 shares of the construction company's stock valued at $1,000,000 after buying an additional 500 shares during the last quarter. Tocqueville Asset Management L.P. increased its holdings in CRH by 6.9% during the first quarter. Tocqueville Asset Management L.P. now owns 51,544 shares of the construction company's stock worth $4,534,000 after buying an additional 3,317 shares during the last quarter. Finally, Ethic Inc. increased its holdings in CRH by 10.9% during the first quarter. Ethic Inc. now owns 6,389 shares of the construction company's stock worth $568,000 after buying an additional 629 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Price Performance

CRH stock traded down $1.8630 during trading hours on Wednesday, hitting $110.5770. The company had a trading volume of 4,046,210 shares, compared to its average volume of 5,602,853. The firm has a 50-day moving average of $96.89 and a 200 day moving average of $95.53. The firm has a market cap of $74.38 billion, a PE ratio of 23.13, a PEG ratio of 1.43 and a beta of 1.26. Crh Plc has a one year low of $76.75 and a one year high of $113.95.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The firm had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The company's revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors 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 annualized dividend and a yield of 1.3%. CRH's payout ratio is 23.22%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRH. DA Davidson reiterated a "neutral" rating and issued a $105.00 price target (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. Sanford C. Bernstein assumed coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price target for the company. Finally, Morgan Stanley reissued an "overweight" rating on shares of CRH in a research report on Friday, August 8th. Two investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $113.18.

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.