Here’s How CRH plc (CRH) Demonstrated Strong Value Creation

ClearBridge Investments, an investment management company, released its “ClearBridge International Growth EAFE Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Holdings in Europe and the United Kingdom made significant contributions to the Strategy’s performance, which exceeded its benchmark, the MSCI EAFE Index. The strategy generated gains across nine of the ten sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge International Growth EAFE Strategy featured stocks such as CRH plc (NYSE:CRH) in the fourth quarter 2023 investor letter. Headquartered in Dublin, Ireland, CRH plc (NYSE:CRH) is a building materials manufacturer and distributor. On January 8, 2024, CRH plc (NYSE:CRH) stock closed at $68.90 per share. One-month return of CRH plc (NYSE:CRH) was 4.98%, and its shares gained 58.03% of their value over the last 52 weeks. CRH plc (NYSE:CRH) has a market capitalization of $48.748 billion.

ClearBridge International Growth EAFE Strategy stated the following regarding CRH plc (NYSE:CRH) in its fourth quarter 2023 investor letter:

“Despite these risks, our holdings in Europe and the U.K. found their footing in the fourth quarter, with eight of the top 10 individual contributors coming from these regions. Irish building materials supplier CRH plc (NYSE:CRH), which has demonstrated strong value creation through M&A and optimization of its portfolio assets over the last several quarters, rose strongly on positive sentiment after its investor day highlighted the company’s accelerating growth in the U.S.”

A crane carrying heavy building materials, representing the robust civil engineering products of the company.

CRH plc (NYSE:CRH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held CRH plc (NYSE:CRH) at the end of third quarter which was 20 in the previous quarter.

We discussed CRH plc (NYSE:CRH) in another article and shared the list of best foreign stocks with dividends. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.