CRH (NYSE:CRH) Downgraded by StockNews.com to “Buy”

Posted by on May 27th, 2023

StockNews.com downgraded shares of CRH (NYSE:CRH – Get Rating) from a strong-buy rating to a buy rating in a research note released on Friday morning.

CRH Stock Up 0.8 %

Shares of CRH opened at $48.81 on Friday. CRH has a 12-month low of $31.22 and a 12-month high of $52.20. The company’s 50-day moving average price is $49.15 and its 200 day moving average price is $45.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.67.

CRH Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, May 11th. Investors of record on Friday, March 17th were issued a $1.03 dividend. This is a positive change from CRH’s previous Semi-Annual dividend of $0.24. This represents a yield of 2.3%. The ex-dividend date was Thursday, March 16th.

Institutional Trading of CRH

Several institutional investors and hedge funds have recently bought and sold shares of CRH. JPMorgan Chase & Co. raised its holdings in CRH by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 269,338 shares of the construction company’s stock valued at $10,790,000 after buying an additional 724 shares during the period. Bank of New York Mellon Corp increased its stake in CRH by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 262,579 shares of the construction company’s stock worth $10,519,000 after purchasing an additional 2,011 shares during the period. American Century Companies Inc. purchased a new stake in CRH during the first quarter worth about $1,541,000. Bank of Montreal Can increased its stake in CRH by 3.1% during the first quarter. Bank of Montreal Can now owns 27,121 shares of the construction company’s stock worth $1,113,000 after purchasing an additional 816 shares during the period. Finally, Prudential Financial Inc. increased its stake in CRH by 24.6% during the first quarter. Prudential Financial Inc. now owns 8,328 shares of the construction company’s stock worth $334,000 after purchasing an additional 1,643 shares during the period. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

About CRH

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CRH Plc manufactures and distributes building materials and products for the construction industry. It operates business through the following segments: Americas Materials, Europe Materials, and Building Products. The Americas Materials segment provides asphalt paving services and produces materials such as cement, aggregates, ready mixed concrete, and asphalt.

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