Saudi Central Bank Acquires 22,118 Shares of Crh Plc $CRH

Saudi Central Bank grew its holdings in shares of Crh Plc (NYSE:CRH) by 89.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 46,858 shares of the construction company’s stock after acquiring an additional 22,118 shares during the quarter. Saudi Central Bank’s holdings in CRH were worth $5,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Angeles Wealth Management LLC lifted its holdings in shares of CRH by 5.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 2,312 shares of the construction company’s stock worth $247,000 after acquiring an additional 129 shares during the last quarter. AlphaGrep UK Ltd bought a new position in shares of CRH during the 2nd quarter valued at $510,000. Raiffeisen Bank International AG raised its position in CRH by 9.6% in the 2nd quarter. Raiffeisen Bank International AG now owns 118,985 shares of the construction company’s stock worth $12,954,000 after purchasing an additional 10,446 shares during the period. Concurrent Investment Advisors LLC raised its position in CRH by 28.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 15,826 shares of the construction company’s stock worth $1,693,000 after purchasing an additional 3,530 shares during the period. Finally, NEOS Investment Management LLC raised its position in CRH by 14.9% in the 2nd quarter. NEOS Investment Management LLC now owns 110,134 shares of the construction company’s stock worth $11,784,000 after purchasing an additional 14,268 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Down 0.1%

NYSE:CRH opened at $94.19 on Monday. The company has a fifty day moving average of $99.69 and a 200 day moving average of $106.35. Crh Plc has a 52 week low of $90.21 and a 52 week high of $131.55. The firm has a market capitalization of $62.66 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.71 and a beta of 1.33.

CRH (NYSE:CRH) last announced its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the firm earned $1.94 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, analysts anticipate that Crh Plc will post 5.9 EPS for the current year.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. CRH’s dividend payout ratio is currently 27.51%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRH shares. Stephens cut their price target on shares of CRH from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. DA Davidson assumed coverage on CRH in a report on Monday, August 24th. They issued a “buy” rating and a $137.00 price objective on the stock. Jefferies Financial Group boosted their target price on CRH from $149.00 to $165.60 and gave the company a “buy” rating in a research note on Friday, June 26th. Sanford C. Bernstein restated an “outperform” rating on shares of CRH in a report on Tuesday, June 23rd. Finally, Truist Financial reduced their price target on CRH from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $140.57.

CRH Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.