CRH (NYSE:CRH) Sees Unusually-High Trading Volume – Here’s Why

Shares of CRH plc (NYSE:CRH) saw unusually-strong trading volume on Friday . Approximately 10,252,415 shares changed 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRH shares. JPMorgan Chase & Co. reduced their price objective on shares of 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 shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Citigroup reduced their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Berenberg Bank set a $120.00 price target on CRH in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $109.64.

CRH Price Performance

The stock has a market capitalization of $64.16 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The business’s fifty day moving average price is $99.81 and its two-hundred day moving average price is $96.36.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. CRH’s payout ratio is 15.51%.

Institutional Investors Weigh In On CRH

A number of large investors have recently made changes to their positions in the stock. 111 Capital purchased a new stake in shares of CRH during the fourth quarter valued at $372,000. Wealth Enhancement Advisory Services LLC boosted its holdings in CRH by 86.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,894 shares of the construction company’s stock valued at $1,563,000 after purchasing an additional 7,813 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in CRH by 1.2% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 193,499 shares of the construction company’s stock valued at $17,903,000 after purchasing an additional 2,386 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in CRH in the fourth quarter valued at $43,228,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in CRH by 10.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 27,769 shares of the construction company’s stock valued at $2,568,000 after purchasing an additional 2,522 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

About CRH

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.