King Luther Capital Management Corp Sells 8,829 Shares of CRH plc (NYSE:CRH)

King Luther Capital Management Corp cut its stake in shares of CRH plc (NYSE:CRH) by 27.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,260 shares of the construction company’s stock after selling 8,829 shares during the period. King Luther Capital Management Corp’s holdings in CRH were worth $1,744,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Greenhaven Associates Inc. boosted its position in CRH by 0.8% in the second quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock worth $833,782,000 after purchasing an additional 91,267 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CRH by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after buying an additional 431,172 shares during the last quarter. Putnam Investments LLC grew its position in CRH by 3,384.4% during the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock valued at $469,022,000 after buying an additional 6,587,066 shares during the period. Lazard Asset Management LLC increased its holdings in CRH by 35,497.5% during the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after buying an additional 5,068,682 shares during the last quarter. Finally, American Century Companies Inc. raised its position in CRH by 103.9% in the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Trading Up 0.2 %

Shares of CRH stock opened at $92.89 on Friday. The stock has a market capitalization of $63.79 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. CRH plc has a 12-month low of $51.59 and a 12-month high of $93.07. The stock’s 50-day moving average price is $84.66 and its 200-day moving average price is $81.79.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, research analysts predict that CRH plc will post 5.45 EPS for the current fiscal year.

CRH Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be issued a $0.35 dividend. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 23rd. CRH’s payout ratio is 29.72%.

Wall Street Analyst Weigh In

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

About CRH

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.