CRH (NYSE:CRH) Sets New 52-Week High at $88.59

CRH plc (NYSE:CRH)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.59 and last traded at $88.51, with a volume of 128632 shares changing hands. The stock had previously closed at $87.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRH shares. Royal Bank of Canada initiated coverage on CRH in a research report on Tuesday, May 14th. They set an “outperform” rating and a $110.00 price target on the stock. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. DA Davidson upped their price target on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Truist Financial upped their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, CRH currently has a consensus rating of “Moderate Buy” and an average price target of $95.70.

CRH Trading Up 2.3 %

The business’s fifty day simple moving average is $79.56 and its 200 day simple moving average is $80.31. The stock has a market cap of $61.92 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, research analysts anticipate that CRH plc will post 5.39 earnings per share for the current year.

CRH Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be paid a dividend of $0.35 per share. This represents a yield of 1.7%. The ex-dividend date is Friday, August 23rd. CRH’s payout ratio is 29.97%.

Institutional Investors Weigh In On CRH

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of CRH in the fourth quarter worth about $3,358,000. CWM LLC increased its stake in CRH by 18.1% during the 4th quarter. CWM LLC now owns 1,498 shares of the construction company’s stock worth $104,000 after purchasing an additional 230 shares in the last quarter. GAMMA Investing LLC acquired a new stake in CRH during the 4th quarter worth approximately $37,000. Atria Wealth Solutions Inc. bought a new position in CRH in the fourth quarter valued at approximately $317,000. Finally, Syon Capital LLC boosted its holdings in shares of CRH by 45.8% in the fourth quarter. Syon Capital LLC now owns 7,591 shares of the construction company’s stock valued at $525,000 after buying an additional 2,383 shares during the period. Institutional investors own 62.50% of the company’s stock.

About CRH

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.