Polar Asset Management Partners Inc. Acquires 24,000 Shares of CRH plc (NYSE:CRH)

Polar Asset Management Partners Inc. raised its holdings in shares of CRH plc (NYSE:CRH) by 84.5% in the third quarter, HoldingsChannel reports. The firm owned 52,400 shares of the construction company’s stock after buying an additional 24,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in CRH were worth $4,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRH. FMR LLC raised its position in CRH by 33.4% during the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock valued at $3,341,258,000 after purchasing an additional 9,055,354 shares during the last quarter. Legal & General Group Plc raised its position in CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after purchasing an additional 4,825,752 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CRH by 515.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after purchasing an additional 4,274,336 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of CRH by 103.9% during the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares during the period. Finally, LGT Group Foundation grew its holdings in shares of CRH by 8,189.3% during the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after acquiring an additional 1,580,527 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Trading Up 0.8 %

Shares of CRH opened at $103.35 on Thursday. The business’s fifty day simple moving average is $96.03 and its two-hundred day simple moving average is $86.75. CRH plc has a 12 month low of $62.80 and a 12 month high of $104.19. The company has a market cap of $70.20 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.262 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is 37.20%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CRH shares. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. Truist Financial upped their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. DA Davidson upped their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays initiated coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. Finally, Morgan Stanley upped their price target on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $106.42.

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.