InterOcean Capital Group LLC Invests $4.88 Million in CRH plc (NYSE:CRH)

InterOcean Capital Group LLC purchased a new stake in CRH plc (NYSE:CRH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 70,571 shares of the construction company’s stock, valued at approximately $4,881,000.

Several other hedge funds have also added to or reduced their stakes in CRH. Barclays PLC acquired a new stake in shares of CRH during the 3rd quarter worth about $941,562,000. International Assets Investment Management LLC bought a new stake in shares of CRH during the fourth quarter worth approximately $3,358,000. Vanguard Group Inc. acquired a new position in shares of CRH in the third quarter valued at approximately $1,484,901,000. Asio Capital LLC increased its stake in shares of CRH by 75.3% during the fourth quarter. Asio Capital LLC now owns 54,015 shares of the construction company’s stock worth $3,736,000 after purchasing an additional 23,205 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in CRH during the 4th quarter worth approximately $692,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRH shares. Royal Bank of Canada initiated coverage on CRH in a report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price objective on the stock. Jefferies Financial Group raised their price target on shares of CRH from $89.70 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Vertical Research initiated coverage on shares of CRH in a report on Friday, March 22nd. They issued a “buy” rating and a $105.00 price objective for the company. StockNews.com cut shares of CRH from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Finally, Citigroup boosted their price target on CRH from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, CRH presently has an average rating of “Moderate Buy” and an average target price of $83.28.

CRH Trading Down 1.4 %

Shares of CRH traded down $1.14 during midday trading on Wednesday, hitting $79.97. The company’s stock had a trading volume of 1,883,087 shares, compared to its average volume of 3,587,482. CRH plc has a one year low of $47.14 and a one year high of $88.00. The company’s fifty day simple moving average is $82.35 and its two-hundred day simple moving average is $74.02.

CRH (NYSE:CRH) last released its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.60 billion. Equities analysts anticipate that CRH plc will post 5.36 EPS for the current fiscal year.

CRH Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, May 24th will be paid a $0.35 dividend. This is a boost from CRH’s previous Variable dividend of $0.23. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a dividend yield of 1.7%.

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.