CRH Sees Significant Increase in Options Trading Activity

CRH plc (NYSE:CRH - Get Free Report) experienced a notable surge in options trading activity on Friday. Investors purchased 12,808 call options for the stock, reflecting a remarkable increase of approximately 123% over the average daily volume of 5,744 call options.

Institutional Investments in CRH

A number of institutional investors and hedge funds have made recent changes to their positions in CRH. For instance, Sumitomo Mitsui Trust Group Inc. increased its stake in the company by 7.9% during the last quarter, acquiring an additional 114,072 shares, which brings its total to 1,562,962 shares valued at approximately $144.6 million. Similarly, Park Avenue Securities LLC expanded its holdings by 22.1%, now owning 32,557 shares worth around $3 million. Merit Financial Group LLC also increased its stake by 31.8%, owning 23,253 shares valued at $2.15 million after buying 5,610 additional shares. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings by 19.9%, now having 72,778 shares worth $6.73 million. Additionally, C2P Capital Advisory Group LLC made a new investment in CRH, valued around $2.34 million. Overall, institutional investors own about 62.50% of CRH's stock.

Analyst Ratings and Price Projections

Several research analysts have recently provided updates regarding CRH shares. Citigroup reduced its price target from $120.00 to $115.00, maintaining a "buy" recommendation. Meanwhile, DA Davidson raised their price target from $110.00 to $120.00 and reaffirmed a "buy" rating. JPMorgan Chase & Co. also lifted their price target from $114.00 to $116.00, tagging the stock as "overweight." StockNews.com upgraded CRH from a "hold" to a "buy" rating, while HSBC Global Research categorized it as a "strong-buy". Currently, one analyst rates the stock as "hold," eleven analysts rate it as "buy," and one gives a "strong buy" rating. Overall, CRH has an average rating of "Buy" and a consensus price target of $108.45, as reported by MarketBeat.com.

Stock Performance Overview

On Friday, CRH shares declined by $4.28, ending the trading session at $94.50. The company's trading volume reached 3,502,183 shares, compared to its usual volume of 4,611,969 shares. CRH has a market capitalization of $64.19 billion, a price-to-earnings (PE) ratio of 19.00, a price-to-earnings growth (PEG) ratio of 1.15, and a beta value of 1.30. The stock has a 50-day moving average of $98.99 and a 200-day moving average of $95.68. Over the past year, CRH has seen a low of $71.18 and a high of $110.97.

Recent Dividend Announcement

In related news, CRH recently declared a quarterly dividend to be distributed on Wednesday, April 16th. Shareholders on record by Friday, March 14th, will receive a dividend of $0.37 per share, up from the previous quarterly dividend of $0.23. This increases the annualized dividend to $1.48, equating to a yield of 1.57%. The ex-dividend date is set for Friday, March 14th, and the company currently has a dividend payout ratio of 20.87%.

About CRH plc

CRH plc, along with its subsidiaries, offers building materials solutions in Ireland and globally. It operates through four divisions: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company is engaged in providing solutions for the construction and maintenance of public infrastructure, commercial, and residential buildings. Furthermore, it produces and sells aggregates, cement, readymixed concrete, and asphalt, and also offers paving and construction services.

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