Renaissance Investment Group LLC cut its position in shares of CRH plc (NYSE:CRH – Get Rating ) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,744 shares of the construction company’s stock after selling 24,312 shares during the period. Renaissance Investment Group LLC’s holdings in CRH were worth $2,377,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also made changes to their positions in the company. Greenhaven Associates Inc. increased its holdings in shares of CRH by 0.7% in the fourth quarter. Greenhaven Associates Inc. now owns 1,808,045 shares of the construction company’s stock valued at $71,942,000 after buying an additional 13,090 shares in the last quarter. Teacher Retirement System of The State of Kentucky acquired a new stake in shares of CRH in the third quarter valued at $12,212,000. Thornburg Investment Management Inc. raised its holdings in shares of CRH by 3.0% in the third quarter. Thornburg Investment Management Inc. now owns 94,623 shares of the construction company’s stock valued at $3,050,000 after buying an additional 2,797 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in shares of CRH by 14,136.0% during the third quarter. BNP Paribas Arbitrage SNC now owns 15,802 shares of the construction company’s stock valued at $509,000 after purchasing an additional 15,691 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of CRH by 31.0% in the third quarter. Trexquant Investment LP now owns 29,015 shares of the construction company’s stock valued at $935,000 after buying an additional 6,860 shares during the last quarter. 5.51% of the shares are currently owned by institutional investors and hedge funds.
CRH shares fell 1.5%
NYSE:CRH opened at $48.12 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.67 and a quick earnings ratio of 1.19. The firm has a 50-day moving average of $47.28 and a 200-day moving average of $40.67. CRH plc has a 1 year low of $31.22 and a 1 year high of $52.20.
CRH increases dividend
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, May 11th. Shareholders of record on Friday, March 17th will be given a $1.03 dividend. This is an increase from CRH’s previous semi-annual dividend of $0.24. This represents a yield of 2.3%. The ex-dividend date is Thursday, March 16th.
The Wall Street analyst weighs in
A number of analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of CRH in a research report on Thursday. They assign a “strong buy” rating to the company. Credit Suisse Group reduced their target price on shares of CRH from €50.00 ($53.76) to €48.00 ($51.61) and set an “outperform” rating for the company in a research report on Wednesday, 23 November. Redburn Partners raised shares of CRH from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of CRH from €50.00 ($53.76) to €48.00 ($51.61) and set an “overweight” rating for the company in a research report on Thursday, December 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.00, according to MarketBeat.
CRH Company Profile
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CRH Plc manufactures and distributes building materials and products for the construction industry. It operates in the following segments: American Materials, European Materials and Building Products. The Americas Materials segment provides paving services and manufactures materials such as cement, aggregates, ready-mixed concrete and asphalt.
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