CRH plc (NYSE:CRH) Sees Large Increase in Short Interest

CRH plc (NYSE:CRH) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 17,520,000 shares, a growth of 51.8% from the March 15th total of 11,540,000 shares. Based on an average daily volume of 7,170,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.6% of the shares of the stock are sold short.

Institutional Trading of CRH

Institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new stake in shares of CRH during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new position in shares of CRH in the 4th quarter worth about $32,000. Park Square Financial Group LLC bought a new stake in shares of CRH during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. grew its stake in CRH by 214.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock worth $33,000 after purchasing an additional 240 shares during the period. Finally, Colonial Trust Co SC bought a new position in shares of CRH during the 4th quarter worth approximately $37,000. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Performance

Shares of CRH stock traded down $0.23 on Thursday, hitting $84.79. The stock had a trading volume of 5,452,284 shares, compared to its average volume of 5,627,304. CRH has a twelve month low of $71.18 and a twelve month high of $110.97. The stock has a 50 day moving average of $95.34 and a 200 day moving average of $96.07. The firm has a market capitalization of $57.34 billion, a P/E ratio of 16.96, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s payout ratio is 22.66%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRH. JPMorgan Chase & Co. cut 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. Royal Bank of Canada dropped their target price on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a research note on Monday. 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 for the company. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 target price on shares of CRH in a report on Friday, February 28th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $112.36.

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.