M&T Bank Corp Acquires 21,962 Shares of CRH plc (NYSE:CRH)

M&T Bank Corp grew its holdings in CRH plc (NYSE:CRH) by 78.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,825 shares of the construction company’s stock after acquiring an additional 21,962 shares during the period. M&T Bank Corp’s holdings in CRH were worth $4,620,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CRH. LGT Group Foundation increased its stake in CRH by 8,189.3% during the second quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after acquiring an additional 1,580,527 shares during the last quarter. CWM LLC increased its position in shares of CRH by 91.2% during the 3rd quarter. CWM LLC now owns 4,064 shares of the construction company’s stock valued at $377,000 after purchasing an additional 1,938 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CRH by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock valued at $646,188,000 after buying an additional 431,172 shares during the period. TCW Group Inc. lifted its position in CRH by 25.1% in the second quarter. TCW Group Inc. now owns 43,408 shares of the construction company’s stock worth $3,255,000 after buying an additional 8,696 shares during the last quarter. Finally, Boston Financial Mangement LLC purchased a new position in CRH during the third quarter worth $24,784,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CRH Price Performance

CRH stock opened at $98.57 on Friday. CRH plc has a 1-year low of $65.69 and a 1-year high of $104.23. The business has a 50-day moving average price of $96.92 and a 200 day moving average price of $87.44. The company has a market capitalization of $66.95 billion, a P/E ratio of 19.71, a PEG ratio of 1.30 and a beta of 1.29.

CRH Cuts Dividend

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

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.