Townsquare Capital LLC Grows Position in Crh Plc (NYSE:CRH)

Key Points

• Townsquare Capital LLC has increased its holdings in Crh Plc by 28.2%, purchasing an additional 8,413 shares, bringing their total to 38,212 shares valued at approximately $3.36 million.
• A variety of institutional investors have recently changed their stakes in CRH, leading to institutional ownership of approximately 62.50% of the stock.
• CRH declared a quarterly dividend of $0.37 per share, payable on September 24th, representing an annualized dividend yield of 1.4%.

Townsquare Capital LLC lifted its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,212 shares of the construction company's stock after acquiring an additional 8,413 shares during the period. Townsquare Capital LLC's holdings in CRH were worth $3,362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Zions Bancorporation National Association UT purchased a new position in shares of CRH during the 1st quarter worth $653,000. Wolverine Asset Management LLC raised its holdings in shares of CRH by 20.5% during the 1st quarter. Wolverine Asset Management LLC now owns 53,000 shares of the construction company's stock worth $4,662,000 after acquiring an additional 9,000 shares during the period. National Bank of Canada FI raised its holdings in CRH by 124.6% in the 1st quarter. National Bank of Canada FI now owns 2,137,182 shares of the construction company's stock valued at $187,928,000 after buying an additional 1,185,468 shares during the period. Citigroup Inc. raised its holdings in CRH by 35.0% in the 1st quarter. Citigroup Inc. now owns 568,882 shares of the construction company's stock valued at $50,045,000 after buying an additional 147,525 shares during the period. Finally, Telemark Asset Management LLC purchased a new stake in CRH in the 1st quarter valued at about $13,196,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Up 4.4%

NYSE:CRH traded up $4.73 on Tuesday, reaching $112.15. 7,540,199 shares of the company's stock were exchanged, compared to its average volume of 4,542,755. The firm has a market capitalization of $75.77 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The business has a fifty day moving average of $94.92 and a 200-day moving average of $95.07. Crh Plc has a 52-week low of $76.75 and a 52-week high of $112.19.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter last year, the company earned $1.88 earnings per share. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 22nd. CRH's dividend payout ratio is presently 23.22%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a report on Thursday, July 10th. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Friday. Finally, Sanford C. Bernstein assumed coverage on shares of CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target 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.