CRH plc (NYSE:CRH) Short Interest Up 26.4% in December

CRH plc (NYSE:CRH) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 12,210,000 shares, an increase of 26.4% from the November 30th total of 9,660,000 shares. Based on an average trading volume of 3,670,000 shares, the short-interest ratio is presently 3.3 days. Currently, 1.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRH. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. HSBC began coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. Barclays began coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. Finally, DA Davidson boosted their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $106.42.

CRH Stock Performance

CRH opened at $92.46 on Tuesday. The firm has a 50-day moving average of $97.95 and a 200 day moving average of $88.97. CRH has a fifty-two week low of $65.74 and a fifty-two week high of $104.23. The firm has a market cap of $62.80 billion, a P/E ratio of 18.49, a PEG ratio of 1.25 and a beta of 1.29.

CRH Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were given a dividend of $0.262 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio is presently 21.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. GHP Investment Advisors Inc. raised its holdings in shares of CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH during the third quarter worth about $25,000. UMB Bank n.a. increased its stake in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after buying an additional 125 shares during the period. Meeder Asset Management Inc. bought a new position in CRH in the 3rd quarter worth $35,000. Finally, Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.