Artemis Investment Management LLP Reduces Stake in CRH plc

Artemis Investment Management LLP has decreased its stake in CRH plc (NYSE:CRH - Free Report) by 18.2% during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). Following this reduction, the firm holds 552,849 shares of the construction company after selling 122,936 shares during the reporting period. At the end of the latest reporting window, Artemis Investment Management LLP's investment in CRH was valued at approximately $51.15 million, representing around 0.08% of the company’s total shares.

Investor Moves

In addition to Artemis Investment Management, other institutional investors have made recent adjustments to their CRH holdings. For instance, Victory Capital Management Inc. established a new position in CRH during the second quarter with an investment estimated at $206,000. Meanwhile, Dimensional Fund Advisors LP raised its stake by 5.0%, amassing a total of 2,099,866 shares valued at $157.37 million after acquiring an additional 100,038 shares. Mercer Global Advisors Inc. ADV also increased its position by 24.7%, now holding 20,431 shares valued at $1.53 million after gaining 4,050 shares in the last quarter. Furthermore, Meiji Yasuda Asset Management Co Ltd purchased a new stake worth $714,000, while Amalgamated Bank acquired a new stake valued at approximately $2.82 million. Institutional investors collectively own about 62.50% of CRH's stock.

Stock Performance

On the trading front, shares of NYSE:CRH opened at $97.69 recently. The stock has seen a 52-week low of $68.15 and a high of $104.23. CRH's 50-day moving average price stands at $97.37, and its 200-day moving average price is $90.52. With a market capitalization of $66.35 billion, CRH has a price-to-earnings ratio of 19.54 and a PEG ratio of 1.00, indicating a beta of 1.31.

Dividend Announcement

CRH has also announced a Variable dividend, which was recently paid on December 18th. Investors on record as of November 22nd received a dividend of $0.262 per share, reflecting a yield of 1.4%. The company currently has a dividend payout ratio of 21.00%.

Analyst Updates

Several analysts have shared their opinions on CRH shares. Barclays initiated coverage on October 29th and recommended an "overweight" rating with a target price of $110.00. Similarly, HSBC Global Research upgraded CRH to a "strong-buy" rating on November 11th. DA Davidson raised their price target for CRH from $110.00 to $120.00, maintaining a "buy" rating, while JPMorgan Chase & Co. adjusted their price objective for CRH from $114.00 to $116.00, also issuing an "overweight" rating. StockNews.com further upgraded CRH from a "hold" to a "buy" rating. Overall, data from MarketBeat.com indicates that the stock has one hold rating, twelve buy ratings, and one strong buy rating, averaging a "Buy" with a target price of approximately $107.75.

Company Overview

CRH plc, along with its subsidiaries, specializes in providing building material solutions both in Ireland and globally. The company operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. CRH is involved in supplying services for public infrastructure and constructing both commercial and residential buildings. Their product offerings include aggregates, cement, ready-mixed concrete, and asphalt, as well as paving and construction services.

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