|Bid||0.00 x 0|
|Ask||2,670.00 x 0|
|Day's Range||2,624.00 - 2,666.00|
|52 Week Range||1,961.00 - 2,733.00|
|Beta (3Y Monthly)||1.13|
|PE Ratio (TTM)||6.41|
|Forward Dividend & Yield||0.63 (2.37%)|
|1y Target Est||N/A|
European funds managing $2 trillion in assets called on cement companies to slash their greenhouse gas emissions on Monday, warning that a failure to do so could put their business models at risk. With the extreme weather and natural disasters associated with climate change intensifying around the world, some asset managers are ramping up engagement with heavy polluters to demand a faster transition to a cleaner economy. “The cement sector needs to dramatically reduce the contribution it makes to climate change," said Stephanie Pfeifer, chief executive of the Institutional Investors Group on Climate Change, which has more than 170 members, mainly European pension funds and asset managers.
The shareholders, which oversee $2tn in assets, have sent letters to the chairmen of CRH, LafargeHolcim, HeidelbergCement and Saint-Gobain, outlining the measures they expect companies to take in response to the growing risks of climate change. Jocelyn Brown, senior investment manager for sustainable ownership at RPMI Railpen, the British pension fund and one of the investors involved in the initiative, said that if the construction materials sector were a country, it would be the third-largest emitter of greenhouse gas emissions, behind only the US and China.
(Bloomberg) -- CRH Plc, which counts activist investor Cevian Capital as an investor, agreed to sell its European plumbing and heating distribution business to Blackstone Group Inc. for 1.64 billion euros ($1.9 billion) in cash to create a more focused building-materials group.The business supplying professional builders and home renovators generated sales of 3.7 billion euros and earnings of 155 million euros last year, Dublin-based CRH said in a statement on Tuesday. Bloomberg reported late Monday a deal with the U.S. private equity firm was imminent.The sale marks CRH’s exit from distribution as Chief Executive Officer Albert Manifold steers the company toward higher growth markets including cement. As part of a more sweeping overhaul to generate cash for acquisitions, the CEO spent the “last several months” exploring options for the business, concluding that a sale would generate the most value for shareholders, according to the company.Blackstone beat out other bidders, including Bain Capital and Lone Star Funds, according to people with knowledge of the matter. The distribution business also sells products such as roof tiles and flooring.Shares of CRH gained 0.8% to 29.74 euros as of 8:13 a.m. in Dublin. The transaction will be “well received given the clean sale and the attractive price,” Davy analyst Robert Gardiner wrote in an investor note.(Updates with analyst and share price in last paragraph.)\--With assistance from Jan-Henrik Förster and Dinesh Nair.To contact the reporters on this story: Aaron Kirchfeld in London at email@example.com;Sarah Syed in London at firstname.lastname@example.org;Andrew Noël in London at email@example.comTo contact the editors responsible for this story: Aaron Kirchfeld at firstname.lastname@example.org, Tara PatelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Irish building materials supplier CRH is selling its underperforming European distribution unit to Blackstone-backed private equity funds for 1.64 billion euros ($1.85 billion), including net debt. With the sale, the Dublin-based company, which provides cement, asphalt and other building materials, would completely exit the distribution business as it tries to improve core profit margins.
With CRH PLC (CRH) it's making a big mistake by continuing to discount the stock. CRH is an Irish manufacturer and distributor of a broad range building materials products and while construction materials remain a fundamental building blocks of our society, CRH is likely to continue growing, despite the short-term hiccup. Warning! GuruFocus has detected 2 Warning Sign with CRH.
On the 26 September 2018, CRH plc (ISE:CRG) will be paying shareholders an upcoming dividend amount of €0.20 per share. However, investors must have bought the company’s stock before 06Read More...
How far off is CRH plc (ISE:CRG) from its intrinsic value? Using the most recent financial data, I am going to take a look at whether the stock is fairlyRead More...