CRH plc (NYSE:CRH) Sees Significant Decline in Short Interest

CRH plc (NYSE:CRH) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 9,660,000 shares, a decline of 7.3% from the November 15th total of 10,420,000 shares. Based on an average trading volume of 3,700,000 shares, the short-interest ratio is presently 2.6 days. Approximately 1.4% of the shares of the company are short sold.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRH shares. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. HSBC assumed coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. Barclays started coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley upped their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH presently has a consensus rating of “Buy” and an average target price of $106.42.

CRH Stock Down 1.0 %

Shares of CRH stock opened at $97.23 on Wednesday. The stock’s fifty day moving average is $97.65 and its 200-day moving average is $87.99. The firm has a market capitalization of $66.04 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. CRH has a 12-month low of $65.74 and a 12-month high of $104.23.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.262 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s payout ratio is 21.00%.

Institutional Trading of CRH

A number of hedge funds have recently modified their holdings of CRH. GHP Investment Advisors Inc. lifted its stake in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after acquiring an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH in the third quarter worth approximately $25,000. UMB Bank n.a. boosted its holdings in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the period. Meeder Asset Management Inc. purchased a new position in CRH during the third quarter valued at approximately $35,000. Finally, Baillie Gifford & Co. increased its stake in CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.