Advisors Asset Management Inc. Cuts Stock Position in CRH plc (NYSE:CRH)

Advisors Asset Management Inc. trimmed its position in shares of CRH plc (NYSE:CRH) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,839 shares of the construction company’s stock after selling 9,347 shares during the quarter. Advisors Asset Management Inc.’s holdings in CRH were worth $8,127,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC bought a new position in shares of CRH during the 4th quarter worth approximately $32,000. Meeder Asset Management Inc. purchased a new position in CRH in the third quarter worth $35,000. Whipplewood Advisors LLC acquired a new position in shares of CRH during the fourth quarter worth $38,000. Deseret Mutual Benefit Administrators lifted its holdings in shares of CRH by 87.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock valued at $47,000 after purchasing an additional 236 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in CRH in the fourth quarter worth about $57,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Citigroup reduced their price objective on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Berenberg Bank set a $120.00 target price on CRH in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $109.25.

CRH Price Performance

CRH opened at $95.99 on Wednesday. The firm has a fifty day moving average price of $99.52 and a 200 day moving average price of $96.25. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The stock has a market cap of $64.98 billion, a P/E ratio of 19.20, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is a positive change from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, March 14th. CRH’s dividend payout ratio is presently 15.51%.

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.