Bank of New York Mellon Corp Buys 221,038 Shares of Crh Plc (NYSE:CRH)

Bank of New York Mellon Corp grew its stake in Crh Plc (NYSE:CRH) by 2.6% in the 1st quarter, Holdings Channel reports. The firm owned 8,830,489 shares of the construction company’s stock after purchasing an additional 221,038 shares during the period. Bank of New York Mellon Corp’s holdings in CRH were worth $776,818,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC increased its stake in shares of CRH by 142,350.0% in the 4th quarter. Headlands Technologies LLC now owns 17,094 shares of the construction company’s stock worth $1,582,000 after acquiring an additional 17,082 shares in the last quarter. Bornite Capital Management LP bought a new position in shares of CRH in the 4th quarter worth about $13,878,000. FMR LLC increased its stake in shares of CRH by 13.0% in the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after acquiring an additional 4,687,345 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of CRH by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 76,911 shares of the construction company’s stock worth $7,116,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of CRH in the 4th quarter worth about $41,407,000. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Performance

NYSE:CRH opened at $95.25 on Friday. The firm has a market cap of $64.36 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.46 and a beta of 1.26. Crh Plc has a fifty-two week low of $74.02 and a fifty-two week high of $110.97. The firm has a 50-day simple moving average of $93.39 and a two-hundred day simple moving average of $94.48.

CRH (NYSE:CRH) last announced its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. On average, equities research analysts predict that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, May 23rd. CRH’s payout ratio is presently 23.52%.

Wall Street Analyst Weigh In

CRH has been the subject of several research reports. Morgan Stanley reiterated an “overweight” rating on shares of CRH in a research note on Wednesday, May 7th. Royal Bank Of Canada decreased their price target on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Loop Capital began coverage on shares of CRH in a research note on Wednesday, April 9th. They issued a “buy” rating and a $114.00 price target for the company. Sanford C. Bernstein began coverage on shares of CRH in a research report on Tuesday, May 13th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective 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 equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $114.18.

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.