CRH (NYSE:CRH) Reaches New 1-Year High – Time to Buy?

Shares of CRH plc (NYSE:CRH) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $102.76 and last traded at $102.71, with a volume of 888956 shares changing hands. The stock had previously closed at $101.40.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays assumed coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. DA Davidson raised their price target on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Finally, Truist Financial upped their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $106.42.

CRH Stock Performance

The stock has a market cap of $69.23 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.30 and a beta of 1.29. The firm has a 50 day simple moving average of $94.76 and a two-hundred day simple moving average of $85.96.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be issued a $0.262 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s payout ratio is currently 37.20%.

Institutional Investors Weigh In On CRH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust increased its position in shares of CRH by 9.5% during the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after purchasing an additional 123 shares during the period. UMB Bank n.a. grew its holdings in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after acquiring an additional 125 shares during the period. CVA Family Office LLC raised its position in CRH by 2.1% in the third quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock worth $567,000 after acquiring an additional 128 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in CRH by 2.9% in the 3rd quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after acquiring an additional 135 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

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.