Hodges Capital Management Inc. Purchases New Shares in CRH plc (NYSE:CRH)

Hodges Capital Management Inc. acquired a new position in CRH plc (NYSE:CRH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 88,645 shares of the construction company’s stock, valued at approximately $8,201,000.

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 stake in shares of CRH in the 3rd quarter worth approximately $25,000. UMB Bank n.a. increased its position in CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of CRH in the fourth quarter valued at $32,000. Meeder Asset Management Inc. purchased a new position in shares of CRH during the 3rd quarter valued at $35,000. Finally, Baillie Gifford & Co. grew its stake in shares of CRH by 70.7% during the 3rd 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 period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Truist Financial raised their price objective 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 started coverage on shares of CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 target price on the stock. Morgan Stanley raised their price target on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Barclays initiated coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CRH has a consensus rating of “Buy” and a consensus target price of $107.75.

CRH Stock Down 0.6 %

NYSE:CRH opened at $99.15 on Monday. The stock has a market cap of $67.34 billion, a P/E ratio of 19.83, a PEG ratio of 1.08 and a beta of 1.30. The business’s 50-day moving average price is $97.23 and its two-hundred day moving average price is $92.31. CRH plc has a twelve month low of $71.18 and a twelve month high of $104.23.

CRH Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were paid a $0.262 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend was Friday, November 22nd. CRH’s dividend payout ratio is currently 21.00%.

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.