Martingale Asset Management L P Grows Stock Position in CRH plc (NYSE:CRH)

Martingale Asset Management L P increased its stake in shares of CRH plc (NYSE:CRH) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,461 shares of the construction company’s stock after purchasing an additional 2,268 shares during the quarter. Martingale Asset Management L P’s holdings in CRH were worth $1,430,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CRH. FMR LLC grew its position in shares of CRH by 13.0% during the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after buying an additional 4,687,345 shares in the last quarter. Vanguard Group Inc. lifted its stake in CRH by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock worth $3,624,719,000 after acquiring an additional 145,101 shares during the last quarter. Franklin Resources Inc. increased its position in shares of CRH by 17.0% in the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after purchasing an additional 2,437,868 shares during the last quarter. Norges Bank acquired a new stake in shares of CRH in the 4th quarter valued at $1,391,245,000. Finally, Bank of New York Mellon Corp lifted its position in shares of CRH by 10.6% during 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. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Up 1.8 %

NYSE CRH opened at $84.75 on Friday. The firm has a market cap of $57.31 billion, a P/E ratio of 16.95, 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. The business’s 50-day moving average price is $96.40 and its 200 day moving average price is $96.24.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, March 14th. CRH’s dividend payout ratio (DPR) is 22.66%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Loop Capital initiated coverage on CRH in a report on Wednesday. They issued a “buy” rating and a $114.00 target price on the stock. Berenberg Bank set a $120.00 target price on CRH in a research report on Friday, February 28th. Citigroup lowered their price target on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CRH currently has an average rating of “Buy” and an average target price of $110.00.

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.