Mariner Investment Group LLC Invests $275,000 in Crh Plc $CRH

Mariner Investment Group LLC bought a new position in shares of Crh Plc (NYSE:CRH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,000 shares of the construction company’s stock, valued at approximately $275,000.

Other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in CRH in the fourth quarter valued at $32,000. GW&K Investment Management LLC boosted its stake in shares of CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company’s stock valued at $39,000 after buying an additional 208 shares during the period. Ransom Advisory Ltd purchased a new position in shares of CRH in the 1st quarter valued at about $47,000. Deseret Mutual Benefit Administrators boosted its stake in shares of CRH by 44.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company’s stock valued at $64,000 after buying an additional 225 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of CRH by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 774 shares of the construction company’s stock valued at $68,000 after buying an additional 315 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Performance

CRH stock opened at $113.64 on Friday. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $116.36. The company has a market capitalization of $76.44 billion, a P/E ratio of 23.77, a PEG ratio of 1.45 and a beta of 1.31. The stock has a 50-day simple moving average of $108.19 and a 200-day simple moving average of $97.65.

CRH (NYSE:CRH) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were given a $0.37 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH’s dividend payout ratio is 23.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRH shares. Bank of America started coverage on shares of CRH in a research note on Friday. They issued a “buy” rating and a $128.00 price target for the company. Sanford C. Bernstein lifted their price objective on shares of CRH from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of CRH in a research report on Tuesday, September 2nd. Jefferies Financial Group raised CRH to a “strong-buy” rating in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. began coverage on CRH in a report on Tuesday, August 26th. They set an “overweight” rating and a $130.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $117.00.

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.