Cannon Global Investment Management LLC Grows Stock Position in CRH plc (NYSE:CRH)

Cannon Global Investment Management LLC increased its position in shares of CRH plc (NYSE:CRH) by 115.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,500 shares of the construction company’s stock after buying an additional 5,100 shares during the quarter. CRH comprises approximately 1.9% of Cannon Global Investment Management LLC’s portfolio, making the stock its 11th largest position. Cannon Global Investment Management LLC’s holdings in CRH were worth $879,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRH. FMR LLC raised its position in shares of 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 buying an additional 9,055,354 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 buying an additional 4,274,336 shares during the period. Franklin Resources Inc. raised its position in shares of CRH by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock valued at $1,329,796,000 after buying an additional 1,148,708 shares during the period. AGF Management Ltd. raised its position in shares of CRH by 4,264.7% during the 4th quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company’s stock valued at $95,714,000 after buying an additional 1,010,825 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of CRH by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock valued at $796,546,000 after buying an additional 826,758 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Down 2.9 %

NYSE:CRH opened at $94.79 on Monday. The company has a fifty day simple moving average of $99.81 and a two-hundred day simple moving average of $96.44. The company has a market cap of $64.16 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRH shares. JPMorgan Chase & Co. cut their target price on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Citigroup cut their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Berenberg Bank set a $120.00 target price on CRH in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $109.64.

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.