Short Interest in CRH plc (NYSE:CRH) Increases By 41.0%

CRH plc (NYSE:CRH) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,050,000 shares, an increase of 41.0% from the August 15th total of 7,130,000 shares. Based on an average daily volume of 6,490,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CRH shares. Truist Financial lifted their price target on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup reduced their target price on shares of CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stephens began coverage on CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price objective on the stock. Finally, DA Davidson lifted their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.70.

Institutional Investors Weigh In On CRH

A number of hedge funds have recently modified their holdings of the business. GHP Investment Advisors Inc. raised its holdings in shares of CRH by 336.4% during the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after acquiring an additional 259 shares during the period. First Financial Corp IN acquired a new stake in shares of CRH in the 1st quarter valued at about $26,000. NBC Securities Inc. lifted its holdings in shares of CRH by 71.5% in the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after purchasing an additional 173 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of CRH during the second quarter worth about $43,000. Finally, Richardson Financial Services Inc. bought a new position in shares of CRH during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

CRH traded up $1.20 during midday trading on Monday, reaching $88.69. 601,920 shares of the company were exchanged, compared to its average volume of 5,163,070. The stock’s 50-day simple moving average is $83.30 and its 200 day simple moving average is $81.51. CRH has a one year low of $51.59 and a one year high of $91.02.

CRH (NYSE:CRH) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, equities analysts predict that CRH will post 5.45 earnings per share for the current year.

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, August 23rd. This represents a yield of 1.7%.

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.