Fred Alger Management LLC Has $592,000 Stock Holdings in CRH plc (NYSE:CRH)

Fred Alger Management LLC trimmed its stake in shares of CRH plc (NYSE:CRH) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,394 shares of the construction company’s stock after selling 183 shares during the quarter. Fred Alger Management LLC’s holdings in CRH were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CRH. Graypoint LLC boosted its stake in 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 buying an additional 170 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of CRH during the 4th quarter worth about $235,000. Pallas Capital Advisors LLC bought a new position in CRH during the 4th quarter valued at about $246,000. Rockland Trust Co. acquired a new position in CRH in the fourth quarter valued at about $230,000. Finally, Kathmere Capital Management LLC grew its stake in CRH by 6.0% during the fourth quarter. Kathmere Capital Management LLC now owns 13,543 shares of the construction company’s stock worth $1,253,000 after buying an additional 763 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CRH shares. Morgan Stanley reissued an “overweight” rating on shares of CRH in a report on Wednesday. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Berenberg Bank set a $120.00 price target on CRH in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Finally, Loop Capital initiated coverage on shares of CRH in a research report on Wednesday, April 9th. They set a “buy” rating and a $114.00 target price on the stock. One equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $112.36.

CRH Stock Performance

Shares of CRH stock opened at $94.70 on Friday. The firm’s 50 day moving average price is $91.43 and its two-hundred day moving average price is $96.17. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97. The stock has a market cap of $63.98 billion, a PE ratio of 18.94, a PEG ratio of 1.15 and a beta of 1.33.

CRH (NYSE:CRH) last posted its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.77 billion. CRH had a return on equity of 16.35% and a net margin of 9.86%. As a group, sell-side analysts predict that CRH plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. CRH’s dividend payout ratio (DPR) is presently 23.52%.

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.