Polymer Capital Management US LLC Invests $4.89 Million in CRH plc (NYSE:CRH)

Polymer Capital Management US LLC bought a new stake in CRH plc (NYSE:CRH) in the 4th quarter, Holdings Channel reports. The fund bought 52,800 shares of the construction company’s stock, valued at approximately $4,885,000. CRH accounts for 1.3% of Polymer Capital Management US LLC’s holdings, making the stock its 16th biggest position.

Other large investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in CRH in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. boosted its holdings in CRH by 214.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in CRH during the 4th quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators increased its holdings in CRH by 87.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after purchasing an additional 236 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of CRH in the 4th quarter valued at approximately $57,000. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Trading Down 6.6 %

NYSE:CRH opened at $80.63 on Monday. The stock has a 50 day moving average of $98.48 and a 200-day moving average of $96.71. The firm has a market capitalization of $54.53 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, March 14th. CRH’s dividend payout ratio is presently 22.66%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CRH shares. Citigroup decreased their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $109.64.

CRH 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.