Wexford Capital LP Purchases New Stake in CRH plc (NYSE:CRH)

Wexford Capital LP acquired a new position in CRH plc (NYSE:CRH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,601 shares of the construction company’s stock, valued at approximately $612,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators purchased a new position in shares of CRH in the third quarter valued at $25,000. UMB Bank n.a. raised its position in shares of CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in CRH during the third quarter worth $35,000. Finally, Baillie Gifford & Co. raised its holdings in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Performance

Shares of NYSE:CRH opened at $102.83 on Friday. The stock has a 50-day simple moving average of $96.22 and a 200-day simple moving average of $86.87. The stock has a market capitalization of $69.84 billion, a P/E ratio of 20.57, a PEG ratio of 1.29 and a beta of 1.29. CRH plc has a 1 year low of $62.80 and a 1 year high of $104.23.

CRH Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRH. Barclays began coverage on CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. Truist Financial lifted their price target on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, HSBC assumed coverage on CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 price target on the stock. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $106.42.

CRH Profile

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.