CRH (NYSE:CRH) Sees Unusually-High Trading Volume – What’s Next?

CRH plc (NYSE:CRH) shares saw unusually-strong trading volume on Friday . Approximately 10,252,415 shares traded hands during mid-day trading, an increase of 109% from the previous session’s volume of 4,896,726 shares.The stock last traded at $94.58 and had previously closed at $97.59.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 price target on CRH in a research report on Friday, February 28th. Finally, 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. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CRH has a consensus rating of “Buy” and an average target price of $109.25.

CRH Stock Down 2.7 %

The company’s 50-day moving average is $99.75 and its two-hundred day moving average is $96.27. The company has a market cap of $64.24 billion, a P/E ratio of 19.02, a price-to-earnings-growth 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. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio (DPR) is presently 15.51%.

Hedge Funds Weigh In On CRH

Several institutional investors have recently bought and sold shares of CRH. Thrivent Financial for Lutherans lifted its position in shares of CRH by 40.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,508 shares of the construction company’s stock valued at $511,000 after buying an additional 1,577 shares during the last quarter. Caprock Group LLC raised its stake in CRH by 82.5% in the 3rd quarter. Caprock Group LLC now owns 12,543 shares of the construction company’s stock valued at $1,163,000 after acquiring an additional 5,669 shares during the period. Meeder Asset Management Inc. purchased a new stake in CRH during the third quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in CRH during the third quarter worth about $405,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of CRH in the third quarter worth about $210,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.