CRH (NYSE:CRH) Shares Gap Down – Here’s Why

CRH plc (NYSE:CRH)’s share price gapped down prior to trading on Monday . The stock had previously closed at $97.51, but opened at $92.40. CRH shares last traded at $92.91, with a volume of 2,821,778 shares changing hands.

Wall Street Analyst Weigh In

CRH has been the topic of several research analyst reports. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Citigroup cut their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Berenberg Bank set a $120.00 price target on CRH in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $109.25.

CRH Stock Up 1.1 %

The stock has a fifty day moving average price of $99.13 and a 200-day moving average price of $95.97. The firm has a market cap of $64.19 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. This is a boost from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, March 14th. CRH’s payout ratio is currently 20.87%.

Institutional Trading of CRH

Several hedge funds have recently made changes to their positions in CRH. Arkadios Wealth Advisors raised its holdings in CRH by 4.9% during the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock worth $216,000 after purchasing an additional 109 shares in the last quarter. Covestor Ltd raised its stake in shares of CRH by 20.4% during the 4th quarter. Covestor Ltd now owns 755 shares of the construction company’s stock worth $70,000 after buying an additional 128 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of CRH by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock valued at $630,000 after buying an additional 129 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of CRH by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock valued at $405,000 after buying an additional 136 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in CRH by 18.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock worth $90,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.