CRH (NYSE:CRH) Sets New 52-Week Low – What’s Next?

Crh Plc (NYSE:CRH)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $89.28 and last traded at $90.9220, with a volume of 105756 shares traded. The stock had previously closed at $90.61.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRH shares. Weiss Ratings upgraded CRH from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Truist Financial decreased their price target on CRH from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. DA Davidson assumed coverage on CRH in a research note on Monday, August 24th. They set a “buy” rating and a $137.00 price objective for the company. Berenberg Bank set a $140.00 target price on shares of CRH in a report on Tuesday. Finally, Citigroup cut shares of CRH from a “buy” rating to a “cautious” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CRH currently has an average rating of “Buy” and a consensus price target of $138.97.

CRH Stock Performance

The stock’s 50-day simple moving average is $99.07 and its 200-day simple moving average is $105.92. The firm has a market capitalization of $60.25 billion, a PE ratio of 16.00, a P/E/G ratio of 1.71 and a beta of 1.33.

CRH (NYSE:CRH) last posted its earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.02 by $0.19. The firm had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $1.94 EPS. As a group, analysts predict that Crh Plc will post 5.9 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. CRH’s dividend payout ratio (DPR) is presently 27.51%.

Institutional Investors Weigh In On CRH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in CRH by 4.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company’s stock valued at $245,460,000 after acquiring an additional 93,106 shares during the period. Handelsbanken Fonder AB grew its stake in shares of CRH by 13.0% in the second quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company’s stock worth $35,545,000 after acquiring an additional 38,141 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of CRH during the second quarter valued at approximately $2,229,000. Quantinno Capital Management LP raised its holdings in shares of CRH by 16.5% during the first quarter. Quantinno Capital Management LP now owns 223,644 shares of the construction company’s stock valued at $23,507,000 after purchasing an additional 31,603 shares during the last quarter. Finally, SummitTX Capital L.P. boosted its holdings in CRH by 13.6% in the first quarter. SummitTX Capital L.P. now owns 118,777 shares of the construction company’s stock worth $12,486,000 after purchasing an additional 14,191 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.