Bornite Capital Management LP Makes New Investment in CRH plc (NYSE:CRH)

Bornite Capital Management LP purchased a new stake in CRH plc (NYSE:CRH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 150,000 shares of the construction company’s stock, valued at approximately $13,878,000. CRH makes up about 1.9% of Bornite Capital Management LP’s holdings, making the stock its 27th biggest position.

Other large investors also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of CRH in the fourth quarter valued at about $32,000. Brown Brothers Harriman & Co. lifted its stake in CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after acquiring an additional 240 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in CRH during the 4th quarter worth approximately $38,000. Deseret Mutual Benefit Administrators boosted its position in CRH by 87.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after acquiring an additional 236 shares during the last quarter. Finally, Spire Wealth Management bought a new position in shares of CRH during the 4th quarter worth approximately $57,000. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRH. JPMorgan Chase & Co. lowered their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Citigroup dropped their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Berenberg Bank set a $120.00 price target on CRH in a research report on Friday, February 28th. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CRH presently has a consensus rating of “Buy” and a consensus price target of $109.64.

CRH Trading Down 4.5 %

NYSE:CRH opened at $86.51 on Friday. The stock’s 50-day moving average is $98.90 and its 200-day moving average is $96.67. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97. The stock has a market cap of $58.50 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. This is a positive change from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s payout ratio is presently 15.51%.

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.