Published on 27 Jul 2023 on Insider Monkey via Yahoo Finance
Should You be Confident About CRH plc (CRH)’s Growth Drivers?
L1 Capital, an investment management firm, released its “L1 Capital International Fund” second quarter 2023 investor letter, a copy of the same can be downloaded here. In the June 2023 quarter, the fund returned 9.0% (net of fees) outperforming the benchmark's (MSCI World Net Total Return Index in AUD) 7.5% return. The Fund and Benchmark’s Australian dollar reported quarterly returns increased as AUD depreciated 1.0% against the U.S. dollar and depreciated 0.9% against the Euro. The Fund returned 25.5% (net of fees), outperforming the Benchmark’s return of 22.4% by 3.1% (all in Australian dollars) for the year ended 30 June 2023. Please check the top five holdings of the fund to know its best picks in 2023.
L1 Capital International Fund highlighted stocks like CRH plc (NYSE:CRH) in the second quarter 2023 investor letter. Headquartered in Dublin, Ireland, CRH plc (NYSE:CRH) is a building materials manufacturer and distributor. On July 26, 2023, CRH plc (NYSE:CRH) stock closed at $59.41 per share. One-month return of CRH plc (NYSE:CRH) was 8.16%, and its shares gained 56.63% of their value over the last 52 weeks. CRH plc (NYSE:CRH) has a market capitalization of $43.065 billion.
L1 Capital International Fund made the following comment about CRH plc (NYSE:CRH) in its second quarter 2023 investor letter: