CRH plc (NYSE:CRH) Sees Large Decline in Short Interest

CRH plc (NYSE:CRH) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 9,660,000 shares, a decrease of 7.3% from the November 15th total of 10,420,000 shares. Based on an average trading volume of 3,700,000 shares, the short-interest ratio is currently 2.6 days. Currently, 1.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On CRH

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tyro Capital Management LLC raised its stake in CRH by 0.6% during the third quarter. Tyro Capital Management LLC now owns 239,716 shares of the construction company’s stock worth $22,231,000 after buying an additional 1,457 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of CRH by 8.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock valued at $1,329,796,000 after purchasing an additional 1,148,708 shares during the period. Decatur Capital Management Inc. acquired a new position in shares of CRH in the 3rd quarter valued at about $213,000. Peapack Gladstone Financial Corp acquired a new position in shares of CRH in the 3rd quarter valued at about $229,000. Finally, Tidal Investments LLC grew its stake in CRH by 168.7% during the third quarter. Tidal Investments LLC now owns 22,089 shares of the construction company’s stock worth $2,049,000 after purchasing an additional 13,868 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Down 1.0 %

NYSE CRH traded down $0.97 on Tuesday, hitting $97.23. The company’s stock had a trading volume of 3,281,638 shares, compared to its average volume of 4,780,829. The company’s 50-day moving average is $97.49 and its 200 day moving average is $87.88. The firm has a market cap of $66.04 billion, a PE ratio of 19.64, a PEG ratio of 1.25 and a beta of 1.29. CRH has a 1-year low of $65.74 and a 1-year high of $104.23.

CRH Cuts Dividend

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

Wall Street Analysts Forecast Growth

CRH has been the topic of a number of research analyst reports. DA Davidson raised their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Truist Financial raised their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Barclays initiated coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CRH currently has a consensus rating of “Buy” and a consensus price target 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.