TFG Advisers LLC Takes $290,000 Position in CRH plc (NYSE:CRH)

TFG Advisers LLC bought a new stake in CRH plc (NYSE:CRH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,123 shares of the construction company’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Narwhal Capital Management grew its stake in CRH by 29.3% during the 3rd quarter. Narwhal Capital Management now owns 64,324 shares of the construction company’s stock valued at $5,965,000 after acquiring an additional 14,567 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of CRH by 26.3% in the third quarter. Sequoia Financial Advisors LLC now owns 9,645 shares of the construction company’s stock valued at $894,000 after purchasing an additional 2,010 shares in the last quarter. Hillman Co. increased its holdings in shares of CRH by 31.9% in the third quarter. Hillman Co. now owns 253,152 shares of the construction company’s stock valued at $23,477,000 after purchasing an additional 61,219 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in CRH by 47.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,409 shares of the construction company’s stock worth $3,098,000 after buying an additional 10,729 shares in the last quarter. Finally, Buckley Wealth Management LLC boosted its stake in CRH by 2.7% during the third quarter. Buckley Wealth Management LLC now owns 8,698 shares of the construction company’s stock worth $807,000 after buying an additional 231 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Price Performance

Shares of CRH stock traded down $0.34 on Wednesday, hitting $91.49. The stock had a trading volume of 378,759 shares, compared to its average volume of 4,924,792. The firm has a market capitalization of $62.82 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.30 and a beta of 1.30. CRH plc has a 1 year low of $51.59 and a 1 year high of $94.14. The company’s 50 day moving average price is $89.25 and its 200-day moving average price is $82.79.

CRH (NYSE:CRH) last released its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, equities analysts forecast that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.35 per share. The ex-dividend date was Friday, August 23rd. This represents a yield of 1.7%. CRH’s dividend payout ratio (DPR) is presently 26.46%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial lifted their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. DA Davidson raised their price target on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup decreased their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, StockNews.com cut CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and a consensus price target of $95.70.

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.