Benson Investment Management Company Inc. Sells 400 Shares of CRH plc (NYSE:CRH)

Benson Investment Management Company Inc. reduced its stake in CRH plc (NYSE:CRH) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,213 shares of the construction company’s stock after selling 400 shares during the quarter. CRH comprises approximately 2.5% of Benson Investment Management Company Inc.’s holdings, making the stock its 11th largest position. Benson Investment Management Company Inc.’s holdings in CRH were worth $6,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its holdings in shares of CRH by 336.4% during the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new stake in shares of CRH in the 3rd quarter worth $25,000. UMB Bank n.a. raised its stake in shares of CRH by 72.7% in 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 last quarter. Meeder Asset Management Inc. bought a new position in shares of CRH during the third quarter valued at $35,000. Finally, Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% during the third 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 last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. HSBC initiated coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. Citigroup lowered their price target on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH has an average rating of “Buy” and a consensus target price of $107.75.

CRH Price Performance

Shares of NYSE CRH opened at $91.69 on Tuesday. CRH plc has a 1 year low of $66.42 and a 1 year high of $104.23. The firm has a fifty day moving average price of $97.70 and a 200-day moving average price of $90.15. The stock has a market cap of $62.28 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.31.

CRH Cuts Dividend

The firm also recently declared a Variable dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.262 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is presently 21.00%.

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.