CRH plc (NYSE:CRH) Short Interest Down 19.1% in May

CRH plc (NYSE:CRH) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 11,510,000 shares, a decline of 19.1% from the April 30th total of 14,220,000 shares. Based on an average trading volume of 7,540,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.7% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRH. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. Royal Bank of Canada decreased their price target on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Loop Capital assumed coverage on shares of CRH in a report on Wednesday, April 9th. They set a “buy” rating and a $114.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on CRH in a research report on Tuesday, May 13th. They issued an “outperform” rating and a $115.00 price objective for the company. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $112.58.

Institutional Investors Weigh In On CRH

Several large investors have recently made changes to their positions in the business. Orion Capital Management LLC purchased a new position in shares of CRH in the fourth quarter valued at $28,000. Park Square Financial Group LLC acquired a new position in CRH in the 4th quarter worth $32,000. 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 position in CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after buying an additional 240 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of CRH during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Down 0.3%

CRH opened at $90.89 on Tuesday. The firm has a market cap of $61.41 billion, a P/E ratio of 18.18, a PEG ratio of 1.15 and a beta of 1.33. The business’s fifty day simple moving average is $90.88 and its 200 day simple moving average is $95.95. CRH has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH (NYSE:CRH) last released its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a return on equity of 16.35% and a net margin of 9.86%. The firm had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.77 billion. As a group, equities analysts expect that CRH will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 23rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, May 23rd. CRH’s dividend payout ratio (DPR) is presently 23.52%.

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.