Short Interest in CRH plc (NYSE:CRH) Declines By 7.3%

CRH plc (NYSE:CRH) was the target of a large decline in short interest in 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. Currently, 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 3,700,000 shares, the days-to-cover ratio is presently 2.6 days.

CRH Trading Up 0.3 %

CRH stock traded up $0.29 during trading on Monday, reaching $98.21. 2,469,513 shares of the stock were exchanged, compared to its average volume of 4,787,024. CRH has a twelve month low of $65.74 and a twelve month high of $104.23. The company has a market capitalization of $66.70 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. The stock has a 50 day simple moving average of $97.30 and a 200-day simple moving average of $87.75.

CRH Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. raised its stake in shares of CRH by 336.4% in the 2nd 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 in the last quarter. Deseret Mutual Benefit Administrators bought a new stake in CRH in the third quarter valued at about $25,000. UMB Bank n.a. raised its position 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 purchasing an additional 125 shares in the last quarter. Meeder Asset Management Inc. bought a new position in CRH during the third quarter worth about $35,000. Finally, Baillie Gifford & Co. boosted its holdings in 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 purchasing an additional 162 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays started coverage on shares of CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target on the stock. HSBC initiated coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 target price on the stock. Morgan Stanley boosted their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH presently has an average rating of “Buy” and an average target price of $106.42.

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.