Clark Capital Management Group Inc. Trims Stake in CRH plc (NYSE:CRH)

Clark Capital Management Group Inc. reduced its position in CRH plc (NYSE:CRHGet Rating) by 37.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 552,742 shares of the construction company’s stock after selling 334,191 shares during the period. Clark Capital Management Group Inc. owned 0.07% of CRH worth $22,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRH. Standard Family Office LLC purchased a new stake in shares of CRH in the 4th quarter valued at about $27,000. Prospera Financial Services Inc purchased a new stake in shares of CRH in the 1st quarter valued at about $32,000. Glassman Wealth Services raised its stake in CRH by 65.2% during the 4th quarter. Glassman Wealth Services now owns 651 shares of the construction company’s stock valued at $34,000 after acquiring an additional 257 shares during the last quarter. UMB Bank N A MO purchased a new stake in CRH during the 4th quarter valued at approximately $35,000. Finally, Harbor Investment Advisory LLC raised its stake in CRH by 188.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,246 shares of the construction company’s stock valued at $50,000 after acquiring an additional 814 shares during the last quarter. 5.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRH has been the subject of several analyst reports. Berenberg Bank reduced their price objective on CRH from €56.00 ($57.14) to €46.00 ($46.94) in a research note on Monday, June 13th. Citigroup reaffirmed a “buy” rating on shares of CRH in a research note on Friday, June 17th. Finally, StockNews.com raised CRH from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 1st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.75.

CRH Stock Performance

NYSE CRH opened at $37.31 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.38 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $37.05 and its two-hundred day moving average is $38.97. CRH plc has a 12-month low of $33.13 and a 12-month high of $54.54.

CRH Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 9th will be given a dividend of $0.24 per share. This is a boost from CRH’s previous semi-annual dividend of $0.23. The ex-dividend date of this dividend is Thursday, September 8th. This represents a yield of 3.1%.

CRH Company Profile

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CRH plc, through its subsidiaries, manufactures and distributes building materials. It operates in three segments: Americas Materials, Europe Materials, and Building Products. The company manufactures and supplies cement, lime, aggregates, precast, ready mixed concrete, and asphalt products; concrete masonry and hardscape products comprising pavers, blocks and kerbs, retaining walls, and related patio products; and glass and glazing products, including architectural glass, custom-engineered curtain and window walls, architectural windows, storefront systems, doors, skylights, and architectural hardware.

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Institutional Ownership by Quarter for CRH (NYSE:CRH)

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