Recent Insider Transactions • Aug 30
Key Executive recently sold €3.4m worth of stock On the 24th of August, Albert Manifold sold around 57k shares on-market at roughly €60.06 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Albert's only on-market trade for the last 12 months. Price Target Changed • Aug 29
Price target increased by 7.4% to €59.83 Up from €55.70, the current price target is an average from 10 analysts. New target price is 13% above last closing price of €52.98. Stock is up 43% over the past year. The company is forecast to post earnings per share of US$4.29 for next year compared to US$3.50 last year. Reported Earnings • Aug 27
First half 2023 earnings released: EPS: US$1.58 (vs US$1.21 in 1H 2022) First half 2023 results: EPS: US$1.58 (up from US$1.21 in 1H 2022). Revenue: US$16.1b (up 7.6% from 1H 2022). Net income: US$1.17b (up 26% from 1H 2022). Profit margin: 7.2% (up from 6.2% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 25
CRH plc Decides to Pay an Interim Dividend, Payable on 22 November 2023 CRH plc Board has decided to pay an interim dividend of $0.25 per share, which represents an increase of 4% on prior year. The interim dividend which will be paid wholly in cash, will be paid on 22 November 2023 to shareholders registered at the close of business on 20 October 2023. The ex-dividend date will be 19 October 2023. Buying Opportunity • Jun 19
Now 20% undervalued Over the last 90 days, the stock is up 2.7%. The fair value is estimated to be €60.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings is also forecast to grow by 7.7% per annum over the same time period. Duyuru • Jun 03
CRH plc (LSE:CRH) acquired Gunderup Grus- Og Stenleje Aps. CRH plc (LSE:CRH) acquired Gunderup Grus- Og Stenleje Aps on December 1, 2022. Cigno´s Managing Partner Jens Møller and Partner Morten Christensen of Cigno Mergers & Acquisitions assisted Gunderup Grus- Og Stenleje Aps on the sale.
CRH plc (LSE:CRH) completed the acquisition of Gunderup Grus- Og Stenleje Aps on December 1, 2022. Upcoming Dividend • Mar 09
Upcoming dividend of US$1.03 per share at 2.5% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 04 May 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Irish dividend payers (4.1%). Lower than average of industry peers (3.6%). Recent Insider Transactions • Mar 08
Independent Non-Executive Director recently bought €239k worth of stock On the 3rd of March, Richard Fearon bought around 5k shares on-market at roughly €47.90 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €2.2m more in shares than they bought in the last 12 months. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: US$3.50 (vs US$3.29 in FY 2021) Full year 2022 results: EPS: US$3.50 (up from US$3.29 in FY 2021). Revenue: US$32.7b (up 5.6% from FY 2021). Net income: US$2.66b (up 3.6% from FY 2021). Profit margin: 8.1% (down from 8.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Group Finance Director & Director Jim Mintern was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Irish dividend payers (4.0%). Lower than average of industry peers (4.3%). Reported Earnings • Aug 27
First half 2022 earnings released: EPS: US$1.21 (vs US$0.89 in 1H 2021) First half 2022 results: EPS: US$1.21 (up from US$0.89 in 1H 2021). Revenue: US$15.0b (up 14% from 1H 2021). Net income: US$926.0m (up 33% from 1H 2021). Profit margin: 6.2% (up from 5.3% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 1.7% compared to a 4.7% growth forecast for the Basic Materials industry in Ireland. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Group Finance Director & Director Jim Mintern was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Apr 07
Group Finance Director & Director exercised options and sold €1.4m worth of stock On the 4th of April, Jim Mintern exercised options to acquire 39k shares at no cost and sold these for an average price of €36.49 per share. This trade did not impact their existing holding. Since December 2021, Jim has owned 33.60k shares directly. Company insiders have collectively sold €5.3m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 13
Key Executive exercised options and sold €3.5m worth of stock On the 8th of March, Albert Manifold exercised options to acquire 100k shares at no cost and sold these for an average price of €35.41 per share. This trade did not impact their existing holding. For the year to December 2020, Albert's total compensation was 13% salary and 87% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Albert currently holds less than 1% of total shares outstanding. Company insiders have collectively sold €3.9m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 04
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$3.29 (up from US$1.43 in FY 2020). Revenue: US$31.0b (up 12% from FY 2020). Net income: US$2.57b (up 129% from FY 2020). Profit margin: 8.3% (up from 4.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 3.5%, compared to a 8.3% growth forecast for the industry in Ireland. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Upcoming Dividend • Sep 02
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 08 October 2021. Trailing yield: 2.2%. Lower than top quartile of Irish dividend payers (4.1%). Lower than average of industry peers (2.7%). Reported Earnings • Aug 28
First half 2021 earnings released: EPS US$1.00 (vs US$0.51 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: US$14.0b (up 15% from 1H 2020). Net income: US$785.0m (up 95% from 1H 2020). Profit margin: 5.6% (up from 3.3% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Executive Departure • Jun 08
Group Finance Director Finbarr Murphy has left the company On the 1st of June, Finbarr Murphy's tenure as Group Finance Director ended after 5.4 years in the role. As of March 2021, Finbarr still personally held 24.77k shares (€990k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 6.00 years. Executive Departure • May 01
Independent Non-Executive Director has left the company On the 29th of April, Heather McSharry's tenure as Independent Non-Executive Director ended after 9.2 years in the role. As of December 2020, Heather personally held 4.38k shares (€149k worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • May 01
Independent Non-Executive Director has left the company On the 29th of April, Lucinda Riches' tenure as Independent Non-Executive Director ended after 6.2 years in the role. As of December 2020, Lucinda personally held 5.00k shares (€170k worth at the time). A total of 2 executives have left over the last 12 months. Recent Insider Transactions Derivative • Mar 18
CEO & Executive Director exercised options and sold €4.9m worth of stock On the 9th of March, Albert Manifold exercised options to acquire 124k shares at no cost and sold these for an average price of €39.68 per share. This trade did not impact their existing holding. For the year to December 2020, Albert's total compensation was 13% salary and 87% non-salary (Indicating these sales could comprise a meaningful part of their income for the year). Since December 2020, Albert has owned 47.06k shares directly. Company insiders have collectively sold €6.1m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Mar 11
Price target raised to €42.12 Up from €39.25, the current price target is an average from 19 analysts. The new target price is close to the current share price of €40.50. As of last close, the stock is up 75% over the past year. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS US$1.43 (vs US$2.27 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$27.6b (down 2.2% from FY 2019). Net income: US$1.12b (down 38% from FY 2019). Profit margin: 4.1% (down from 6.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue and earnings miss expectations Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 23%. Over the next year, revenue is forecast to grow 4.0%, compared to a 6.3% growth forecast for the Basic Materials industry in Ireland. Is New 90 Day High Low • Mar 04
New 90-day high: €39.20 The company is up 14% from its price of €34.50 on 04 December 2020. The Irish market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €55.80 per share. Is New 90 Day High Low • Jan 06
New 90-day high: €37.31 The company is up 10.0% from its price of €33.84 on 08 October 2020. The Irish market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Basic Materials industry, which is also up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €48.64 per share. Major Estimate Revision • Nov 25
Analysts update estimates The 2020 consensus earning per share (EPS) estimate was lowered from US$1.83 to US$1.60. Revenue estimate was approximately flat at US$23.8b. Net income is expected to grow by 8.4% next year compared to 22% growth forecast for the Basic Materials industry in Ireland. The consensus price target increased from €36.65 to €37.70. Share price is up 2.4% to €34.89 over the past week. Is New 90 Day High Low • Oct 29
New 90-day low: €28.97 The company is down 7.0% from its price of €31.16 on 30 July 2020. The Irish market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.86 per share. Is New 90 Day High Low • Sep 22
New 90-day low: €29.94 The company is down 1.0% from its price of €30.36 on 24 June 2020. The Irish market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.38 per share.