Leuthold Group LLC Acquires Shares of 102,559 CRH plc (NYSE:CRH)

Leuthold Group LLC bought a new position in shares of CRH plc (NYSE:CRH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 102,559 shares of the construction company’s stock, valued at approximately $7,690,000.

A number of other institutional investors have also modified their holdings of the business. Seven Eight Capital LP increased its stake in CRH by 502.3% in the second quarter. Seven Eight Capital LP now owns 48,645 shares of the construction company’s stock valued at $3,647,000 after purchasing an additional 40,568 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in CRH by 14.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 43,908 shares of the construction company’s stock valued at $3,277,000 after acquiring an additional 5,445 shares during the period. Amalgamated Bank purchased a new stake in CRH during the 2nd quarter valued at approximately $2,823,000. Tredje AP fonden acquired a new stake in CRH during the 2nd quarter worth approximately $6,748,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of CRH in the 2nd quarter valued at approximately $714,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRH. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Citigroup cut their target price on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. DA Davidson lifted their price target on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Stephens started coverage on CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.70.

CRH Stock Performance

NYSE:CRH opened at $90.02 on Thursday. CRH plc has a 12-month low of $51.59 and a 12-month high of $91.84. The company’s 50-day moving average is $84.13 and its two-hundred day moving average is $81.65.

CRH (NYSE:CRH) last released its earnings results on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Analysts forecast that CRH plc will post 5.45 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be paid a $0.35 dividend. The ex-dividend date is Friday, August 23rd. This represents a yield of 1.7%.

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.