Gates Capital Management Inc. Reduces Position in CRH plc (NYSE:CRH)

Gates Capital Management Inc. cut its holdings in shares of CRH plc (NYSE:CRH) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,746,995 shares of the construction company’s stock after selling 154,767 shares during the quarter. CRH comprises 3.0% of Gates Capital Management Inc.’s portfolio, making the stock its 5th biggest holding. Gates Capital Management Inc. owned 0.26% of CRH worth $161,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graham Capital Management L.P. grew its position in shares of CRH by 102.2% in the fourth quarter. Graham Capital Management L.P. now owns 77,937 shares of the construction company’s stock valued at $7,211,000 after purchasing an additional 39,389 shares during the last quarter. Ethic Inc. raised its position in shares of CRH by 82.5% in the 4th quarter. Ethic Inc. now owns 5,760 shares of the construction company’s stock valued at $533,000 after buying an additional 2,603 shares in the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of CRH by 26.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 356,231 shares of the construction company’s stock worth $32,958,000 after acquiring an additional 75,454 shares during the period. Fiduciary Trust Co increased its stake in CRH by 5.9% in the fourth quarter. Fiduciary Trust Co now owns 7,002 shares of the construction company’s stock valued at $650,000 after acquiring an additional 390 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its stake in shares of CRH by 1.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 980,396 shares of the construction company’s stock valued at $90,706,000 after purchasing an additional 13,081 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Price Performance

CRH opened at $94.70 on Friday. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The company’s 50-day moving average is $91.43 and its 200 day moving average is $96.13. The firm has a market capitalization of $64.05 billion, a P/E ratio of 18.94, a PEG ratio of 1.15 and a beta of 1.33.

CRH (NYSE:CRH) last released its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a net margin of 9.86% and a return on equity of 16.35%. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.77 billion. On average, equities research analysts expect that CRH plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 23rd. CRH’s dividend payout ratio is 22.66%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRH shares. Morgan Stanley reissued an “overweight” rating on shares of CRH in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Berenberg Bank set a $120.00 price objective on shares of CRH in a report on Friday, February 28th. Royal Bank of Canada cut their target price on CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $112.36.

CRH 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.