CRH plc (NYSE:CRH – Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 12,210,000 shares, a growth of 26.4% from the November 30th total of 9,660,000 shares. Based on an average daily volume of 3,670,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.8% of the company’s shares are sold short.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Morgan Stanley increased their price objective on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Truist Financial lifted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, DA Davidson lifted their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. One 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. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $106.42.
Read Our Latest Stock Analysis on CRH
CRH Stock Performance
CRH Cuts Dividend
The company also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were given a dividend of $0.262 per share. The ex-dividend date was Friday, November 22nd. This represents a yield of 1.4%. CRH’s payout ratio is 21.00%.
Institutional Investors Weigh In On CRH
Several institutional investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its holdings in shares of CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after purchasing an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators acquired a new position in CRH during the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its stake in CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after buying an additional 125 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in CRH in the third quarter worth about $35,000. Finally, Baillie Gifford & Co. grew its stake in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after acquiring an additional 162 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.
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.
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