CRH plc (NYSE:CRH, LSE:CRH) said on March 6, 2023 that its board of directors declared a regular semi-annual dividend of $1.03 per share ($2.06 annualized). Previously, the company paid $0.24 per share.
Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on May 11, 2023.
At the current share price of $51.40 / share, the stock’s dividend yield is 4.01%. Looking back five years and taking a sample every week, the average dividend yield has been 1.24%, the lowest has been 0.85%, and the highest has been 2.27%. The standard deviation of yields is 0.24 (n=236).
The current dividend yield is 11.70 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.09. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 10.08% Upside
As of March 8, 2023, the average one-year price target for CRH is $56.58. The forecasts range from a low of $43.92 to a high of $66.28. The average price target represents an increase of 10.08% from its latest reported closing price of $51.40.
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The projected annual revenue for CRH is $33,861MM, an increase of 3.48%. The projected annual non-GAAP EPS is $3.45.
What is the Fund Sentiment?
There are 633 funds or institutions reporting positions in CRH. This is a decrease of 3 owner(s) or 0.47% in the last quarter. Average portfolio weight of all funds dedicated to CRH is 0.43%, an increase of 5.51%. Total shares owned by institutions increased in the last three months by 0.52% to 130,699K shares. The put/call ratio of CRH is 0.46, indicating a bullish outlook.
What are Large Shareholders Doing?
VGTSX – Vanguard Total International Stock Index Fund Investor Shares holds 9,676K shares representing 1.30% ownership of the company. In it’s prior filing, the firm reported owning 526K shares, representing an increase of 94.57%. The firm increased its portfolio allocation in CRH by 1,746.03% over the last quarter.
Boston Partners holds 7,950K shares representing 1.07% ownership of the company. In it’s prior filing, the firm reported owning 7,475K shares, representing an increase of 5.98%. The firm decreased its portfolio allocation in CRH by 99.95% over the last quarter.
ARTKX – Artisan International Value Fund Investor Shares holds 6,531K shares representing 0.88% ownership of the company. In it’s prior filing, the firm reported owning 6,659K shares, representing a decrease of 1.96%. The firm increased its portfolio allocation in CRH by 6.17% over the last quarter.
FIGSX – Fidelity Series International Growth Fund holds 5,753K shares representing 0.77% ownership of the company. In it’s prior filing, the firm reported owning 5,675K shares, representing an increase of 1.35%. The firm increased its portfolio allocation in CRH by 5.14% over the last quarter.
VTMGX – Vanguard Developed Markets Index Fund Admiral Shares holds 5,704K shares representing 0.77% ownership of the company. In it’s prior filing, the firm reported owning 5,695K shares, representing an increase of 0.17%. The firm increased its portfolio allocation in CRH by 4.89% over the last quarter.
CRH Background Information
(This description is provided by the company.)
CRH plc is an international group of diversified building materials businesses whose headquarters is in Dublin, Ireland. It manufactures and supplies a wide range of products for the construction industry.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.