Cannon Global Investment Management LLC Buys 3,300 Shares of CRH plc (NYSE:CRH)

Cannon Global Investment Management LLC increased its stake in CRH plc (NYSE:CRH) by 50.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,800 shares of the construction company’s stock after acquiring an additional 3,300 shares during the period. CRH makes up 2.3% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Cannon Global Investment Management LLC’s holdings in CRH were worth $845,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CRH. First Financial Corp IN acquired a new position in CRH during the first quarter valued at approximately $26,000. Orion Capital Management LLC lifted its position in CRH by 100.0% during the fourth quarter. Orion Capital Management LLC now owns 400 shares of the construction company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. NBC Securities Inc. lifted its position in CRH by 71.5% during the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after buying an additional 173 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in CRH during the fourth quarter valued at approximately $30,000. Finally, UMB Bank n.a. acquired a new position in CRH during the fourth quarter valued at approximately $33,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRH has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “hold” rating and set a $82.00 target price (up from $80.00) on shares of CRH in a research report on Monday, April 15th. Vertical Research initiated coverage on shares of CRH in a research report on Friday, March 22nd. They set a “buy” rating and a $105.00 target price on the stock. Citigroup boosted their target price on shares of CRH from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Truist Financial lifted their price target on shares of CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, StockNews.com lowered shares of CRH from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.11.

CRH Price Performance

NYSE CRH traded up $0.48 on Friday, hitting $74.98. 38,170,117 shares of the company were exchanged, compared to its average volume of 13,211,468. The company’s 50 day moving average price is $78.99 and its 200-day moving average price is $77.17. CRH plc has a twelve month low of $51.59 and a twelve month high of $88.00.

CRH (NYSE:CRH) last issued its earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.60 billion. On average, analysts predict that CRH plc will post 5.36 EPS for the current year.

CRH Increases Dividend

The company also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 24th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 23rd. This represents a yield of 1.7%. This is an increase from CRH’s previous Variable dividend of $0.23.

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.