CRH plc (NYSE:CRH) is Baupost Group LLC MA’s 5th Largest Position

Baupost Group LLC MA trimmed its position in CRH plc (NYSE:CRH) by 37.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,636,602 shares of the construction company’s stock after selling 1,590,000 shares during the quarter. CRH accounts for 7.0% of Baupost Group LLC MA’s holdings, making the stock its 5th largest holding. Baupost Group LLC MA owned about 0.39% of CRH worth $244,518,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH during the 3rd quarter worth $25,000. UMB Bank n.a. lifted its stake in shares of CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake 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 worth $25,000 after purchasing an additional 259 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CRH during the 3rd quarter worth $35,000. Finally, Baillie Gifford & Co. lifted its stake in shares of CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Performance

Shares of CRH stock opened at $102.87 on Wednesday. The stock’s 50-day simple moving average is $94.76 and its 200-day simple moving average is $85.96. The firm has a market capitalization of $69.87 billion, a PE ratio of 20.57, a P/E/G ratio of 1.30 and a beta of 1.29. CRH plc has a fifty-two week low of $61.51 and a fifty-two week high of $103.64.

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 issued a $0.262 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio is presently 37.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. DA Davidson upped their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. Barclays started coverage on CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. Finally, HSBC started coverage on CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 target price on the stock. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CRH has a consensus rating of “Buy” and an average target price of $106.42.

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.