Short Interest in CRH plc (NYSE:CRH) Declines By 11.9%

CRH plc (NYSE:CRH) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 10,600,000 shares, a drop of 11.9% from the June 15th total of 12,030,000 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average trading volume of 7,200,000 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRH shares. Vertical Research started coverage on CRH in a report on Friday, March 22nd. They issued a “buy” rating and a $105.00 price objective for the company. Truist Financial increased their price objective on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada started coverage on CRH in a report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price objective for the company. Stephens began coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Finally, StockNews.com cut CRH from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.90.

Institutional Trading of CRH

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Financial Corp IN bought a new position in shares of CRH in the first quarter worth about $26,000. Orion Capital Management LLC boosted its stake in shares of CRH by 100.0% in the fourth 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 position in CRH during the fourth quarter valued at approximately $30,000. UMB Bank n.a. bought a new position in CRH during the fourth quarter valued at approximately $33,000. Finally, WASHINGTON TRUST Co bought a new position in CRH during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Down 2.2 %

Shares of CRH stock traded down $1.79 on Wednesday, reaching $80.82. The company’s stock had a trading volume of 5,226,767 shares, compared to its average volume of 5,469,718. The firm’s fifty day simple moving average is $78.35 and its two-hundred day simple moving average is $77.92. CRH has a 52 week low of $51.59 and a 52 week high of $88.00.

CRH (NYSE:CRH) last issued its quarterly earnings data on Friday, May 10th. The construction company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.60 billion. Equities analysts predict that CRH will post 5.39 EPS for the current fiscal year.

CRH Increases Dividend

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

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.