Azzad Asset Management Inc. ADV Acquires Shares of 6,486 CRH plc (NYSE:CRH)

Azzad Asset Management Inc. ADV acquired a new stake in shares of CRH plc (NYSE:CRH) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,486 shares of the construction company’s stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Gabelli Funds LLC raised its stake in shares of CRH by 20.0% during the 4th quarter. Gabelli Funds LLC now owns 6,000 shares of the construction company’s stock worth $415,000 after buying an additional 1,000 shares in the last quarter. Putnam Investments LLC raised its stake in shares of CRH by 3,384.4% during the 4th quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after buying an additional 6,587,066 shares in the last quarter. L1 Capital International Pty Ltd purchased a new position in shares of CRH during the 4th quarter worth approximately $14,021,000. III Capital Management raised its stake in shares of CRH by 12.3% during the 4th quarter. III Capital Management now owns 32,000 shares of the construction company’s stock worth $2,213,000 after buying an additional 3,500 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of CRH by 37.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 344,579 shares of the construction company’s stock worth $23,831,000 after buying an additional 93,095 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRH. DA Davidson increased their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup dropped 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. Stephens began coverage on CRH in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Finally, Truist Financial raised their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, CRH presently has a consensus rating of “Moderate Buy” and an average price target of $95.70.

CRH Stock Performance

Shares of NYSE:CRH opened at $89.23 on Wednesday. The business’s fifty day moving average price is $86.87 and its two-hundred day moving average price is $82.33. The stock has a market cap of $61.27 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. CRH plc has a one year low of $51.59 and a one year high of $94.14.

CRH (NYSE:CRH) last announced its earnings results on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research analysts predict that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.35 per share. This represents a yield of 1.7%. The ex-dividend date was Friday, August 23rd. CRH’s dividend payout ratio (DPR) is presently 29.77%.

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.