|Bid||33.07 x 1200|
|Ask||33.08 x 1800|
|Day's Range||32.92 - 33.18|
|52 Week Range||24.62 - 35.53|
|Beta (3Y Monthly)||0.81|
|PE Ratio (TTM)||7.99|
|Forward Dividend & Yield||0.81 (2.45%)|
|1y Target Est||24.01|
(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.
DUBLIN, IRELAND / ACCESSWIRE / July 16, 2019 / CRH plc, the global building materials group, announces that it has reached agreement to divest of its Europe Distribution business (the "Business") to private equity funds managed by Blackstone for an Enterprise Value of €1.64 billion* payable in cash. The Business comprises CRH's entire General Builders Merchants business in Europe, including its Sanitary Heating and Plumbing business. It supplies building materials to professional builders, specialist contractors and DIY customers through a network of local and regional brands across 6 countries in Western Europe.
Board Change DUBLIN / ACCESSWIRE / June 25, 2019 / CRH plc, the global building materials group, announces that Mr. Bill Teuber has advised the Company of his intention to resign from the CRH Board with ...
DUBLIN, IRELAND / ACCESSWIRE / April 29, 2019 / CRH Continues Share Buyback Programme. As part of its Trading Update on 24 April 2019, CRH plc announced its intention to continue its share buyback programme ...
Irish building materials group CRH has had a lot of interest in its European distribution arm ahead of a decision in the next two to three months on whether to trigger a sale, Chief Executive Albert Manifold said on Thursday. Dublin-based CRH put the entire unit under review last year and Reuters reported on April 12 that CRH had hired Bank of America to launch the sale of the unit in a deal valuing the unit at about 2 billion euros (£1.7 billion) including debt. The sale process is expected to begin next month and has already drawn interest from buyout funds including Advent, Lone Star and CVC, sources familiar with the matter said.
The FTSE 100 index lost 0.7 percent on its worst day in a month, but the midcaps gained 0.4 percent with gold miner Centamin leading gains after a strong quarterly update. The blue chips, which had touched a near seven-month high in the last session, lagged European markets where strong earnings from the likes of SAP and Credit Suisse kept a lid on losses. Bellwethers Shell and BP dropped from multi-month highs as crude prices retreated after having jumped to their 2019 highs this week as the United States pushed to tighten sanctions against Iran.
Ireland's CRH announced an additional 350 million euros in share buybacks and forecast growth for the year after the building materials group reported a 7 percent rise in first-quarter sales on Wednesday. The world's second-biggest building materials supplier by market capitalisation launched its first share buyback programme in a decade last year and had completed the repurchase of 1 billion euros of shares by the end of March. The strong first quarter was driven by a 12 percent year-on-year increase in sales in its Europe Materials division, while sales in its Americas Materials and Building Products divisions rose by 4 and 5 percent, respectively.
DUBLIN / ACCESSWIRE / April 24, 2019 / CRH plc, the global building materials group, issues the following Trading Update for the period 1 January 2019 to 31 March 2019 in advance of its Annual General Meeting (AGM) which takes place tomorrow at 11.00am in Dublin. As previously announced, the Group was reorganised into three Divisions effective 1 January 2019: Americas Materials, Europe Materials and Building Products. Sales growth was also supported by pricing progress across all major product lines.
DUBLIN / ACCESSWIRE / April 2, 2019 / CRH plc, the global building materials group, is pleased to announce that it has completed the fourth phase of its share buyback programme, returning a further €200 ...
DUBLIN / ACCESSWIRE / March 8, 2019 / CRH plc (the "Company") (LSE: CRH, ISE: CRG, NYSE: CRH): 2018 Annual Report and Form 20-F, Notice of Annual General Meeting and Form of Proxy (the 'Documents') ...
LafargeHolcim, the world's largest cement maker, forecast sales growth of 3 to 5 percent in 2019, as engineering projects and demand for new housing fuelled by low interest rates shield the construction industry from economic downturn. Chief Executive Jan Jenisch said he expected the upswing LafargeHolcim enjoyed in the second half of 2018 to continue into 2019. "In building materials we are in a very resilient market segment, so even if there is a downturn globally....we will manage quite well because we are participating in local markets," Jenisch told journalists.
DUBLIN / ACCESSWIRE / February 28, 2019 / CRH PLC (LSE: CRH) Key Points · Record EBITDA 1 delivery at €3.37 billion · Continued profit growth and margin improvement amid weather disruption and an inflationary ...
DUBLIN / ACCESSWIRE / February 28, 2019 / CRH plc announces that, having completed two terms of three years as a Director, Don McGovern will step down from the Board at the conclusion of the Annual General ...
The FTSE 100 edged 0.1 percent lower, while the more domestically-focused FTSE 250, which benefits from a strong pound, was up 0.4 percent. Sterling held steady after strong comments on Brexit from European Council President Donald Tusk and as investors mulled a report that UK cabinet ministers had discussed plans that would potentially postpone Britain's exit from the bloc to May 24. The gains in sterling were enough to drag blue-chip exporter stocks such as Diageo, British American Tobacco and Reckitt Benckiser lower.
European shares were lower on Wednesday as weak results from banks, including BNP Paribas, and carmaker Daimler brought an end to the market's six-day rally. Europe's STOXX 600 fell 0.2 percent by 0909 GMT, with the index stalled near the more-than-two-month highs reached on Tuesday. "Investors looking towards the State of the Union address for a fresh trading catalyst were left disappointed," said Jasper Lawler, head of research at London Capital Group.
Activist investor Cevian Capital has built a stake in Ireland's CRH to become the heavy materials and building products group's second-largest owner, Cevian managing partner Christer Gardell told Reuters. CRH, which makes cement, aggregates and asphalt among a wide range of building products, is Cevian's second disclosed new investment since stock markets turned bearish in the second half of 2018, having announced a 2.3 percent holding in banking group Nordea in December. "We have actively taken advantage of the recent market turbulence to make a number of new investments and add to some existing holdings," Gardell said.
DUBLIN / ACCESSWIRE / December 28, 2018 / On 25 April 2018, CRH plc (CRH) (CRH.L) announced its intention to repurchase ordinary shares of up to €1 billion over the next 12 months. CRH is pleased to announce that it has completed the third phase of its share buyback programme, returning a further €100 million of cash to shareholders (the "Phase 3 Programme"). Between 27 November 2018 and 21 December 2018, 4.1 million ordinary shares were repurchased on the London Stock Exchange.
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.
According to the GuruFocus All-in-One Screener, the following companies with market caps over $5 billion look cheap since they are trading with low price-sales ratios. Warning! GuruFocus has detected 6 Warning Signs with SRCI. SRC Energy Inc. (SRCI) shares are trading around $5.24 with a price-sales ratio of 2.26 and a price-earnings ratio of 5.46.
With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Royal Caribbean Cruises Ltd. (NYSE:RCL). Royal Caribbean Cruises Ltd. (NYSE:RCL) […]
Update to Phase 3 of Share Buyback Programme DUBLIN, IRELAND / ACCESSWIRE / November 27, 2018 / On 25 April 2018, CRH plc (NYSE: CRH) (LSE: CRH) announced its intention to repurchase ordinary shares of ...
DUBLIN, IRELAND / ACCESSWIRE / November 20, 2018 / CRH plc, the global building materials group, issues the following Trading Update for the period 1 January 2018 to 30 September 2018. Momentum remained positive in Europe, while demand improved in Asia.
DUBLIN, IRELAND / ACCESSWIRE / November 20, 2018 / On 25 April 2018, CRH plc (CRH.L) (CRH) announced its intention to repurchase ordinary shares of up to €1 billion over the next 12 months. Having already completed the first and second phases of its share buyback programme, under which approximately €700 million of cash was returned to shareholders, CRH today announces the next phase of the programme, a discretionary programme to repurchase ordinary shares for a maximum consideration of €100 million (the "Phase 3 Programme"). Under the terms of the Phase 3 Programme, ordinary shares will be repurchased on the London Stock Exchange within certain pre-set parameters.