Polymer Capital Management US LLC Invests $4.89 Million in CRH plc (NYSE:CRH)

Polymer Capital Management US LLC acquired a new stake in shares of CRH plc (NYSE:CRH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,800 shares of the construction company’s stock, valued at approximately $4,885,000. CRH comprises approximately 1.3% of Polymer Capital Management US LLC’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in shares of CRH by 15.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company’s stock worth $738,000 after purchasing an additional 1,091 shares during the last quarter. Centiva Capital LP acquired a new stake in CRH during the third quarter worth approximately $230,000. IHT Wealth Management LLC acquired a new stake in CRH during the third quarter worth approximately $240,000. Quantinno Capital Management LP grew its stake in CRH by 23.9% in the 3rd quarter. Quantinno Capital Management LP now owns 41,805 shares of the construction company’s stock worth $3,875,000 after acquiring an additional 8,071 shares during the period. Finally, Stifel Financial Corp raised its holdings in CRH by 10.7% in the 3rd quarter. Stifel Financial Corp now owns 104,969 shares of the construction company’s stock valued at $9,735,000 after acquiring an additional 10,136 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

CRH opened at $80.63 on Monday. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The firm has a 50 day moving average price of $98.48 and a 200 day moving average price of $96.71. The company has a market cap 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 Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.