CRH Sees Unusually High Options Volume (NYSE:CRH)

CRH plc (NYSE:CRH) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 10,262 put options on the stock. This represents an increase of approximately 64% compared to the average volume of 6,253 put options.

CRH Stock Performance

Shares of NYSE CRH traded up $3.90 during mid-day trading on Wednesday, hitting $98.53. 3,946,329 shares of the stock traded hands, compared to its average volume of 4,700,940. The stock has a fifty day moving average price of $99.13 and a 200-day moving average price of $95.97. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.15 and a beta of 1.30. CRH has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be given a $0.37 dividend. 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 dividend on an annualized basis and a dividend yield of 1.50%. CRH’s dividend payout ratio is currently 20.87%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRH. FMR LLC lifted its holdings in shares of CRH by 13.0% during the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock valued at $3,781,004,000 after purchasing an additional 4,687,345 shares during the last quarter. Vanguard Group Inc. raised its stake in CRH by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after buying an additional 145,101 shares during the last quarter. Franklin Resources Inc. boosted its holdings in CRH by 17.0% in the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock worth $1,553,194,000 after acquiring an additional 2,437,868 shares in the last quarter. Norges Bank purchased a new stake in shares of CRH in the fourth quarter worth $1,391,245,000. Finally, State Street Corp increased its holdings in shares of CRH by 4.9% during the third quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock valued at $1,218,532,000 after acquiring an additional 618,786 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Berenberg Bank set a $120.00 price target on shares of CRH in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Citigroup dropped their price objective on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CRH currently has a consensus rating of “Buy” and a consensus target price of $109.25.

CRH Company 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.