CRH (NYSE:CRH) Hits New 1-Year Low – Time to Sell?

Crh Plc (NYSE:CRH) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $92.38 and last traded at $92.4810, with a volume of 887680 shares. The stock had previously closed at $94.29.

Wall Street Analyst Weigh In

Several research firms recently commented on CRH. Sanford C. Bernstein restated an “outperform” rating on shares of CRH in a report on Tuesday, June 23rd. Wells Fargo & Company dropped their price objective on shares of CRH from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group raised their target price on shares of CRH from $149.00 to $165.60 and gave the company a “buy” rating in a research note on Friday, June 26th. Truist Financial reduced their target price on shares of CRH from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, Stephens reduced their target price on shares of CRH from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $140.57.

CRH Stock Performance

The firm has a fifty day moving average of $101.25 and a 200 day moving average of $107.29. The firm has a market capitalization of $61.33 billion, a PE ratio of 16.25, a P/E/G ratio of 1.77 and a beta of 1.34.

CRH (NYSE:CRH) last released its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. The firm had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%.CRH’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 EPS. Research analysts forecast that Crh Plc will post 5.8 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 14th. CRH’s dividend payout ratio (DPR) is presently 27.51%.

Hedge Funds Weigh In On CRH

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of CRH by 10,631.6% during the second quarter. California State Teachers Retirement System now owns 83,361,667 shares of the construction company’s stock valued at $8,919,698,000 after acquiring an additional 82,584,877 shares in the last quarter. State Street Corp lifted its stake in shares of CRH by 81.3% in the fourth quarter. State Street Corp now owns 24,895,205 shares of the construction company’s stock worth $3,106,927,000 after acquiring an additional 11,167,189 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CRH by 67.3% in the fourth quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company’s stock worth $1,827,252,000 after acquiring an additional 5,916,930 shares in the last quarter. Norges Bank purchased a new position in CRH in the fourth quarter valued at about $1,476,939,000. Finally, Royal Bank of Canada boosted its holdings in CRH by 2.5% in the fourth quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company’s stock valued at $1,348,894,000 after purchasing an additional 262,175 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.