Traders Buy High Volume of Put Options on CRH (NYSE:CRH)

CRH plc (NYSE:CRH) saw unusually large options trading on Wednesday. Investors purchased 10,262 put options on the company. This is an increase of 64% compared to the average daily volume of 6,253 put options.

Hedge Funds Weigh In On CRH

Several institutional investors have recently bought and sold shares of CRH. Orion Capital Management LLC purchased a new stake in shares of CRH in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in CRH in the fourth quarter valued at about $32,000. Park Square Financial Group LLC purchased a new stake in CRH in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its holdings in CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in CRH during the 3rd quarter worth approximately $35,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRH. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Citigroup cut their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Berenberg Bank set a $120.00 target price on shares of CRH in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $109.25.

CRH Trading Down 3.8 %

CRH stock opened at $94.68 on Friday. The stock has a 50 day moving average of $99.29 and a two-hundred day moving average of $95.98. CRH has a twelve month low of $71.18 and a twelve month high of $110.97. The stock has a market capitalization of $64.09 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. CRH’s dividend payout ratio (DPR) is currently 20.87%.

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.