Ilmarinen Mutual Pension Insurance Co Takes $13.88 Million Position in CRH plc (NYSE:CRH)

Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of CRH plc (NYSE:CRH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the construction company’s stock, valued at approximately $13,878,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in CRH by 40.1% during the third quarter. Thrivent Financial for Lutherans now owns 5,508 shares of the construction company’s stock valued at $511,000 after acquiring an additional 1,577 shares during the period. Captrust Financial Advisors boosted its stake in CRH by 15.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company’s stock valued at $738,000 after purchasing an additional 1,091 shares during the period. Benjamin Edwards Inc. grew its holdings in CRH by 61.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 16,561 shares of the construction company’s stock valued at $1,536,000 after buying an additional 6,335 shares during the last quarter. Centiva Capital LP bought a new position in CRH in the 3rd quarter worth approximately $230,000. Finally, Hilltop Holdings Inc. lifted its holdings in shares of CRH by 40.7% during the third quarter. Hilltop Holdings Inc. now owns 5,343 shares of the construction company’s stock worth $496,000 after buying an additional 1,545 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

CRH stock opened at $80.63 on Friday. The business has a 50 day simple moving average of $98.48 and a 200 day simple moving average of $96.61. The company has a market capitalization of $54.53 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a one year low of $71.18 and a one year high of $110.97.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is a boost from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. CRH’s dividend payout ratio (DPR) is presently 15.51%.

Wall Street Analyst Weigh In

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

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.