Hiddenite Capital Partners LP Sells 100,000 Shares of Crh Plc $CRH

Hiddenite Capital Partners LP lessened its holdings in Crh Plc (NYSE:CRH) by 55.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 80,000 shares of the construction company’s stock after selling 100,000 shares during the period. CRH accounts for approximately 1.9% of Hiddenite Capital Partners LP’s holdings, making the stock its 16th biggest position. Hiddenite Capital Partners LP’s holdings in CRH were worth $7,344,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Huntington National Bank grew its position in shares of CRH by 12.6% during the second quarter. Huntington National Bank now owns 6,321 shares of the construction company’s stock valued at $580,000 after purchasing an additional 706 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CRH by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,185,200 shares of the construction company’s stock valued at $843,201,000 after purchasing an additional 354,711 shares during the last quarter. Seelaus Asset Management LLC boosted its position in shares of CRH by 4.5% during the second quarter. Seelaus Asset Management LLC now owns 20,380 shares of the construction company’s stock valued at $1,871,000 after buying an additional 880 shares during the period. Bank of Montreal Can boosted its position in shares of CRH by 151.1% during the second quarter. Bank of Montreal Can now owns 1,063,066 shares of the construction company’s stock valued at $97,589,000 after buying an additional 639,625 shares during the period. Finally, Regents Gate Capital LLP purchased a new stake in shares of CRH in the second quarter valued at approximately $5,597,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Down 0.9%

Shares of CRH stock opened at $118.00 on Tuesday. Crh Plc has a 52-week low of $76.75 and a 52-week high of $121.99. The stock has a market cap of $79.37 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 1.68 and a beta of 1.32. The business has a 50-day simple moving average of $115.61 and a 200-day simple moving average of $103.00.

CRH (NYSE:CRH) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.27 billion. During the same quarter last year, the business earned $1.88 earnings per share. CRH’s revenue was up 5.7% on a year-over-year basis. Sell-side analysts anticipate that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 22nd. CRH’s payout ratio is 23.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on CRH from $110.00 to $131.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Jefferies Financial Group upgraded CRH to a “strong-buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. began coverage on CRH in a report on Friday, October 24th. They set an “overweight” rating for the company. Sanford C. Bernstein boosted their target price on CRH from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CRH in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $127.71.

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.