Ilmarinen Mutual Pension Insurance Co Invests $13.88 Million in CRH plc (NYSE:CRH)

Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of CRH plc (NYSE:CRH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 150,000 shares of the construction company’s stock, valued at approximately $13,878,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in CRH during the 4th quarter worth about $1,391,245,000. Franklin Resources Inc. lifted its position in shares of CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock worth $1,553,194,000 after purchasing an additional 2,437,868 shares in the last quarter. AGF Management Ltd. grew its stake in shares of CRH by 4,264.7% during the fourth quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company’s stock valued at $95,714,000 after purchasing an additional 1,010,825 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of CRH by 32,560.1% in the fourth quarter. National Bank of Canada FI now owns 951,714 shares of the construction company’s stock valued at $88,053,000 after purchasing an additional 948,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in CRH by 10.6% in the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock worth $796,546,000 after purchasing an additional 826,758 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

Shares of NYSE CRH opened at $80.63 on Friday. The firm has a 50 day moving average price of $98.48 and a 200 day moving average price of $96.61. The stock has a market cap of $54.53 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.15 and a beta of 1.30. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is currently 15.51%.

Analysts Set New Price Targets

Several research firms have recently commented on CRH. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Berenberg Bank set a $120.00 price target on CRH in a report on Friday, February 28th. Citigroup dropped their price objective on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price 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. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $109.64.

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.