Permanent Capital Management LP Makes New Investment in CRH plc (NYSE:CRH)

Permanent Capital Management LP bought a new position in shares of CRH plc (NYSE:CRH) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,258 shares of the construction company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators bought a new position in shares of CRH in the third quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of CRH in the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. bought a new position in shares of CRH in the third quarter valued at approximately $35,000. Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in shares of CRH in the fourth quarter valued at approximately $38,000. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRH. JPMorgan Chase & Co. raised their price objective on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. DA Davidson lifted their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. HSBC started coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CRH has a consensus rating of “Buy” and a consensus target price of $108.45.

CRH Stock Performance

CRH stock opened at $97.34 on Friday. The company has a market capitalization of $66.11 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a one year low of $71.18 and a one year high of $110.97. The company’s 50 day moving average price is $99.06 and its two-hundred day moving average price is $95.77.

CRH Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.52%. CRH’s dividend payout ratio (DPR) is 20.87%.

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.