CIBC Asset Management Inc Raises Stake in CRH plc (NYSE:CRH)

CIBC Asset Management Inc lifted its stake in shares of CRH plc (NYSE:CRH) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,510 shares of the construction company’s stock after acquiring an additional 1,274 shares during the period. CIBC Asset Management Inc’s holdings in CRH were worth $2,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CRH. OneDigital Investment Advisors LLC increased its position in CRH by 84.8% during the third quarter. OneDigital Investment Advisors LLC now owns 28,158 shares of the construction company’s stock worth $2,611,000 after purchasing an additional 12,918 shares during the last quarter. ING Groep NV purchased a new stake in shares of CRH during the 3rd quarter valued at approximately $9,274,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in CRH by 1.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,879 shares of the construction company’s stock valued at $1,844,000 after acquiring an additional 188 shares during the last quarter. Zions Bancorporation N.A. grew its position in CRH by 14.3% in the third quarter. Zions Bancorporation N.A. now owns 6,809 shares of the construction company’s stock worth $631,000 after acquiring an additional 852 shares during the period. Finally, KBC Group NV increased its stake in CRH by 37.5% during the third quarter. KBC Group NV now owns 1,220,222 shares of the construction company’s stock worth $113,163,000 after acquiring an additional 332,562 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Performance

CRH stock opened at $99.79 on Wednesday. The company’s 50 day moving average price is $93.36 and its 200 day moving average price is $85.25. The firm has a market capitalization of $67.78 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.44 and a beta of 1.29. CRH plc has a fifty-two week low of $58.57 and a fifty-two week high of $102.51.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be issued a $0.262 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is 32.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRH. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Morgan Stanley lifted their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Barclays began coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective on the stock. HSBC initiated coverage on shares of CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CRH presently has an average rating of “Buy” and an average price target of $105.55.

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.