CRH (NYSE:CRH) Hits New 52-Week High – Should You Buy?

CRH plc (NYSE:CRH)’s share price reached a new 52-week high on Thursday . The stock traded as high as $104.23 and last traded at $103.60, with a volume of 442894 shares changing hands. The stock had previously closed at $103.37.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. DA Davidson increased 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. Finally, Barclays began coverage on shares of CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CRH currently has a consensus rating of “Buy” and an average target price of $106.42.

CRH Price Performance

The company has a market cap of $69.94 billion, a PE ratio of 20.60, a P/E/G ratio of 1.29 and a beta of 1.29. The business’s 50 day moving average is $96.22 and its 200-day moving average is $86.87.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given 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 (DPR) is currently 37.20%.

Hedge Funds Weigh In On CRH

Large investors have recently bought and sold shares of the business. Tyro Capital Management LLC lifted its holdings in CRH by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 239,716 shares of the construction company’s stock worth $22,231,000 after buying an additional 1,457 shares during the last quarter. Franklin Resources Inc. lifted its stake in CRH by 8.7% during the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock worth $1,329,796,000 after purchasing an additional 1,148,708 shares during the last quarter. Decatur Capital Management Inc. purchased a new stake in CRH during the third quarter worth approximately $213,000. Peapack Gladstone Financial Corp acquired a new position in CRH in the third quarter valued at approximately $229,000. Finally, Tidal Investments LLC increased its stake in CRH by 168.7% in the third quarter. Tidal Investments LLC now owns 22,089 shares of the construction company’s stock valued at $2,049,000 after purchasing an additional 13,868 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company 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.