CRH plc (NYSE:CRH) Short Interest Up 51.8% in March

CRH plc (NYSE:CRH) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 17,520,000 shares, an increase of 51.8% from the March 15th total of 11,540,000 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 7,170,000 shares, the short-interest ratio is presently 2.4 days.

CRH Stock Performance

Shares of CRH stock traded down $0.23 during trading on Thursday, hitting $84.79. 5,452,284 shares of the company were exchanged, compared to its average volume of 5,627,304. The firm has a market capitalization of $57.34 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.15 and a beta of 1.30. The business’s 50-day simple moving average is $95.34 and its 200 day simple moving average is $96.07. CRH has a twelve month low of $71.18 and a twelve month high of $110.97.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.75%. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s payout ratio is 22.66%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRH. Royal Bank of Canada lowered their price objective on shares of CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 target price on CRH in a report on Friday, February 28th. Finally, Citigroup cut their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $112.36.

Hedge Funds Weigh In On CRH

A number of hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its stake in shares of CRH by 4.9% in the 4th quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock valued at $216,000 after acquiring an additional 109 shares in the last quarter. Covestor Ltd boosted its stake in CRH by 20.4% during the 4th quarter. Covestor Ltd now owns 755 shares of the construction company’s stock valued at $70,000 after purchasing an additional 128 shares during the period. Parallel Advisors LLC lifted its holdings in shares of CRH by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock worth $630,000 after buying an additional 129 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of CRH by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock valued at $405,000 after acquiring an additional 136 shares during the period. Finally, Yousif Capital Management LLC increased its position in CRH by 1.7% during the first quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company’s stock worth $721,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.