CRH plc (NYSE:CRH) Short Interest Update

CRH plc (NYSE:CRH) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 10,420,000 shares, a decrease of 8.8% from the October 31st total of 11,420,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 3,890,000 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRH. JPMorgan Chase & Co. increased their price target on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. HSBC started coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. DA Davidson boosted their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Truist Financial boosted their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Barclays initiated coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. One 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. According to MarketBeat, CRH currently has a consensus rating of “Buy” and an average price target of $106.42.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently modified their holdings of CRH. GHP Investment Advisors Inc. lifted 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 purchasing an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new stake in CRH during the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its holdings in 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 buying an additional 125 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CRH during the third quarter valued at approximately $35,000. Finally, Baillie Gifford & Co. increased 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 acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

CRH traded up $0.15 during trading on Monday, hitting $102.42. 1,286,198 shares of the stock traded hands, compared to its average volume of 4,826,140. The firm has a 50-day moving average of $95.37 and a 200 day moving average of $86.35. CRH has a 12-month low of $62.80 and a 12-month high of $104.19. The firm has a market capitalization of $69.56 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued a $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 37.20%.

CRH Company 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.