Short Interest in CRH plc (NYSE:CRH) Drops By 8.8%

CRH plc (NYSE:CRH) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 10,420,000 shares, a decrease of 8.8% from the October 31st total of 11,420,000 shares. Based on an average daily volume of 3,890,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.5% of the shares of the stock are short sold.

CRH Price Performance

CRH stock opened at $102.49 on Wednesday. The stock has a fifty day moving average price of $95.80 and a two-hundred day moving average price of $86.64. CRH has a 52-week low of $62.80 and a 52-week high of $104.19. The firm has a market capitalization of $69.61 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s payout ratio is presently 37.20%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRH. JPMorgan Chase & Co. boosted their price target on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays began coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. HSBC started coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. Morgan Stanley boosted their price objective on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Truist Financial boosted their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $106.42.

Institutional Trading of CRH

Several large investors have recently made changes to their positions in CRH. GHP Investment Advisors Inc. boosted its holdings in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new position in CRH during the third quarter worth about $25,000. UMB Bank n.a. boosted its holdings in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares during the last quarter. Meeder Asset Management Inc. bought a new position in CRH during the third quarter worth about $35,000. Finally, Baillie Gifford & Co. boosted its holdings in CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after buying an additional 162 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

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.