Sit Investment Associates Inc. Reduces Stock Position in CRH plc (NYSE:CRH)

Sit Investment Associates Inc. decreased its stake in shares of CRH plc (NYSE:CRH) by 42.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,325 shares of the construction company’s stock after selling 9,900 shares during the quarter. Sit Investment Associates Inc.’s holdings in CRH were worth $1,233,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CRH. Heck Capital Advisors LLC acquired a new position in shares of CRH during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. boosted its holdings in CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of CRH in the 4th quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators grew its stake in shares of CRH by 87.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock valued at $47,000 after buying an additional 236 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of CRH during the 4th quarter worth approximately $57,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Down 6.6 %

Shares of CRH opened at $80.63 on Monday. The company has a market cap of $54.53 billion, a P/E ratio of 16.13, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The firm’s 50 day moving average price is $98.48 and its 200 day moving average price is $96.71.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. This is a boost from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, March 14th. CRH’s dividend payout ratio (DPR) is presently 22.66%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRH. Citigroup lowered their price objective on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Berenberg Bank set a $120.00 price target on CRH in a report on Friday, February 28th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CRH presently has a consensus rating of “Buy” and a consensus target price of $109.64.

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.