Bornite Capital Management LP Has $35.03 Million Holdings in CRH plc (NYSE:CRH)

Bornite Capital Management LP decreased its holdings in shares of CRH plc (NYSE:CRH) by 33.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 406,146 shares of the construction company’s stock after selling 200,000 shares during the quarter. CRH comprises approximately 5.9% of Bornite Capital Management LP’s holdings, making the stock its 5th largest position. Bornite Capital Management LP owned about 0.06% of CRH worth $35,034,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Financial Corp IN bought a new stake in shares of CRH in the 1st quarter worth approximately $26,000. Orion Capital Management LLC lifted its position in shares of CRH by 100.0% in the 4th quarter. Orion Capital Management LLC now owns 400 shares of the construction company’s stock worth $28,000 after acquiring an additional 200 shares during the period. Pinnacle Bancorp Inc. bought a new stake in shares of CRH in the 4th quarter worth approximately $30,000. UMB Bank n.a. bought a new stake in shares of CRH in the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co bought a new stake in shares of CRH in the 4th quarter worth approximately $35,000. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of research reports. Stephens initiated coverage on CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Stifel Nicolaus restated a “hold” rating and set a $82.00 target price (up previously from $80.00) on shares of CRH in a research report on Monday, April 15th. StockNews.com downgraded CRH from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Finally, Citigroup cut their target price on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.90.

CRH Trading Up 1.3 %

CRH stock traded up $1.05 during midday trading on Monday, reaching $82.60. 3,626,053 shares of the company’s stock traded hands, compared to its average volume of 5,369,420. The company has a 50-day simple moving average of $78.09 and a two-hundred day simple moving average of $78.73. CRH plc has a 1-year low of $51.59 and a 1-year high of $88.00.

CRH (NYSE:CRH) last released its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.60 billion. Analysts expect that CRH plc will post 5.39 EPS for the current fiscal year.

CRH Increases Dividend

The company also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, May 24th were paid a $0.35 dividend. This is a boost from CRH’s previous Variable dividend of $0.23. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 23rd.

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.