Traders Buy Large Volume of Call Options on CRH (NYSE:CRH)

CRH plc (NYSE:CRH) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 22,193 call options on the company. This represents an increase of approximately 539% compared to the average volume of 3,474 call options.

CRH Stock Performance

Shares of CRH stock traded down $1.37 during mid-day trading on Tuesday, hitting $71.59. 2,095,201 shares of the stock were exchanged, compared to its average volume of 5,464,641. The company has a market capitalization of $49.16 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.24 and a beta of 1.30. The company has a 50-day simple moving average of $78.99 and a 200 day simple moving average of $77.24. CRH has a 12 month low of $51.59 and a 12 month high of $88.00.

CRH (NYSE:CRH) last issued its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The company had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.60 billion. Analysts predict that CRH will post 5.35 EPS for the current year.

CRH Increases Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, May 24th were given a dividend of $0.35 per share. This represents a yield of 1.7%. The ex-dividend date was Thursday, May 23rd. This is a positive change from CRH’s previous Variable dividend of $0.23. CRH’s dividend payout ratio (DPR) is currently 25.89%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Vertical Research assumed coverage on shares of CRH in a research report on Friday, March 22nd. They issued a “buy” rating and a $105.00 price target for the company. Truist Financial raised their target price on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $82.00 price target (up previously from $80.00) on shares of CRH in a research report on Monday, April 15th. Jefferies Financial Group raised their price objective on CRH from $89.70 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, StockNews.com cut CRH from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.11.

Institutional Investors Weigh In On CRH

A number of hedge funds and other institutional investors have recently bought and sold shares of CRH. Massmutual Trust Co. FSB ADV increased its position in shares of CRH by 17.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company’s stock worth $79,000 after purchasing an additional 133 shares during the last quarter. Janiczek Wealth Management LLC raised its position in CRH by 3.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 4,748 shares of the construction company’s stock valued at $329,000 after purchasing an additional 155 shares in the last quarter. NBC Securities Inc. lifted its stake in CRH by 71.5% during the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after purchasing an additional 173 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in CRH by 30.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock worth $54,000 after purchasing an additional 183 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in CRH by 25.6% during the fourth quarter. Allworth Financial LP now owns 975 shares of the construction company’s stock worth $67,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

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.