CRH plc (NYSE:CRH) Stake Trimmed by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP cut its position in shares of CRH plc (NYSE:CRH) by 69.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 532,174 shares of the construction company’s stock after selling 1,205,885 shares during the quarter. CRH accounts for 4.0% of Wolf Hill Capital Management LP’s portfolio, making the stock its 9th largest position. Wolf Hill Capital Management LP owned about 0.08% of CRH worth $39,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRH. Massmutual Trust Co. FSB ADV grew its stake in CRH by 17.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company’s stock valued at $79,000 after acquiring an additional 133 shares in the last quarter. Janiczek Wealth Management LLC grew its position in CRH by 3.4% during the first quarter. Janiczek Wealth Management LLC now owns 4,908 shares of the construction company’s stock valued at $423,000 after purchasing an additional 160 shares in the last quarter. NBC Securities Inc. increased its stake in CRH by 71.5% in the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after buying an additional 173 shares during the period. EverSource Wealth Advisors LLC lifted its position in CRH by 30.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock worth $54,000 after buying an additional 183 shares in the last quarter. Finally, Gallacher Capital Management LLC boosted its stake in shares of CRH by 3.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 5,997 shares of the construction company’s stock valued at $450,000 after buying an additional 188 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Citigroup dropped their target price on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report 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 report on Friday, August 9th. Stephens started coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.70.

CRH Price Performance

CRH stock opened at $92.85 on Friday. The firm has a market cap of $63.76 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.38 and a beta of 1.30. The firm has a fifty day moving average price of $84.66 and a two-hundred day moving average price of $81.79. CRH plc has a fifty-two week low of $51.59 and a fifty-two week high of $93.07.

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

CRH Cuts Dividend

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

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.