CRH (NYSE:CRH) Sets New 12-Month Low – What’s Next?

Crh Plc (NYSE:CRH) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $89.28 and last traded at $90.9220, with a volume of 105756 shares changing hands. The stock had previously closed at $90.61.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRH shares. Sanford C. Bernstein restated an “outperform” rating on shares of CRH in a research note on Tuesday, June 23rd. Wells Fargo & Company cut their price objective on shares of CRH from $132.00 to $107.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup cut shares of CRH from a “buy” rating to a “cautious” rating in a research note on Wednesday. Stephens lowered their price target on CRH from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, Berenberg Bank set a $140.00 price target on CRH in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $139.57.

CRH Trading Down 1.9%

The business’s fifty day moving average price is $98.36 and its 200 day moving average price is $105.40. The company has a market capitalization of $58.32 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.62 and a beta of 1.33.

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

CRH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, August 14th. CRH’s dividend payout ratio (DPR) is 27.51%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in shares of CRH by 10,631.6% during the second quarter. California State Teachers Retirement System now owns 83,361,667 shares of the construction company’s stock worth $8,919,698,000 after buying an additional 82,584,877 shares in the last quarter. State Street Corp boosted its holdings in shares of CRH by 81.3% in the 4th quarter. State Street Corp now owns 24,895,205 shares of the construction company’s stock worth $3,106,927,000 after acquiring an additional 11,167,189 shares in the last quarter. Geode Capital Management LLC grew its position in CRH by 67.3% during the 4th quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company’s stock worth $1,827,252,000 after acquiring an additional 5,916,930 shares during the last quarter. Norges Bank acquired a new stake in CRH during the 4th quarter valued at $1,476,939,000. Finally, Royal Bank of Canada raised its position in CRH by 2.5% in the 4th quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company’s stock valued at $1,348,894,000 after purchasing an additional 262,175 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.