CRH (NYSE:CRH) Hits New 12-Month Low – Time to Sell?

Crh Plc (NYSE:CRH) hit a new 52-week low on Wednesday . The company traded as low as $86.32 and last traded at $86.2710, with a volume of 2814905 shares. The stock had previously closed at $87.69.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRH. Wells Fargo & Company reduced their price target on CRH from $132.00 to $107.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of CRH in a report on Tuesday, June 23rd. Berenberg Bank set a $140.00 target price on shares of CRH in a research report on Tuesday, September 8th. Jefferies Financial Group upped their price target 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. Finally, Truist Financial lowered their price target on shares of CRH from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and a consensus price target of $139.57.

CRH Trading Up 0.1%

The stock has a 50 day simple moving average of $96.57 and a 200 day simple moving average of $104.23. The stock has a market cap of $57.71 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.57 and a beta of 1.33.

CRH (NYSE:CRH) last released its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. The firm had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%.The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. Equities analysts anticipate that Crh Plc will post 5.9 earnings per share for the current year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 1.8%. CRH’s dividend payout ratio is currently 27.51%.

Hedge Funds Weigh In On CRH

Hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of CRH in the 2nd quarter valued at approximately $40,000. Sequoia Financial Advisors LLC boosted its position in shares of CRH by 2.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,044 shares of the construction company’s stock worth $2,466,000 after acquiring an additional 659 shares in the last quarter. National Pension Service increased its stake in CRH by 5.9% in the second quarter. National Pension Service now owns 2,020,187 shares of the construction company’s stock valued at $216,160,000 after acquiring an additional 111,824 shares during the last quarter. Engineers Gate Manager LP increased its stake in CRH by 1,838.4% in the second quarter. Engineers Gate Manager LP now owns 461,503 shares of the construction company’s stock valued at $49,381,000 after acquiring an additional 437,694 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in CRH by 20.4% during the second quarter. NewEdge Advisors LLC now owns 23,243 shares of the construction company’s stock valued at $2,487,000 after purchasing an additional 3,945 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.