Jupiter Asset Management Ltd. Sells 948,853 Shares of CRH plc (NYSE:CRH)

Jupiter Asset Management Ltd. reduced its position in shares of CRH plc (NYSE:CRH) by 67.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 453,482 shares of the construction company’s stock after selling 948,853 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in CRH were worth $42,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its holdings in CRH by 4.9% during the 4th quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock worth $216,000 after purchasing an additional 109 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of CRH by 18.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock valued at $90,000 after acquiring an additional 150 shares during the last quarter. Manitou Investment Management Ltd. increased its stake in shares of CRH by 1.4% in the 4th quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock valued at $1,037,000 after acquiring an additional 160 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares during the last quarter. Finally, Graypoint LLC increased its stake in shares of CRH by 5.4% in the 4th quarter. Graypoint LLC now owns 3,315 shares of the construction company’s stock valued at $307,000 after acquiring an additional 170 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRH. Citigroup lowered their price target on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Berenberg Bank set a $120.00 price target on CRH in a research note on Friday, February 28th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price target on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CRH currently has an average rating of “Buy” and a consensus price target of $109.25.

CRH Stock Up 1.1 %

NYSE:CRH opened at $94.83 on Wednesday. CRH plc has a twelve month low of $71.18 and a twelve month high of $110.97. The business has a 50 day moving average price of $99.13 and a two-hundred day moving average price of $95.97. The company has a market cap of $64.19 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is 20.87%.

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.