MBB Public Markets I LLC Acquires New Position in Allegion plc (NYSE:ALLE)

MBB Public Markets I LLC bought a new position in shares of Allegion plc (NYSE:ALLE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,400 shares of the scientific and technical instruments company’s stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALLE. Stifel Financial Corp lifted its position in Allegion by 4.1% in the 4th quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock worth $16,495,000 after buying an additional 5,133 shares during the last quarter. Norden Group LLC bought a new position in shares of Allegion in the 1st quarter worth approximately $2,271,000. BNP Paribas Financial Markets boosted its position in shares of Allegion by 90.7% during the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after purchasing an additional 57,832 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Allegion by 107.6% during the fourth quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock valued at $27,717,000 after purchasing an additional 113,227 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Allegion by 18.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 66,701 shares of the scientific and technical instruments company’s stock valued at $8,450,000 after buying an additional 10,300 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 0.5 %

Shares of NYSE ALLE opened at $144.97 on Wednesday. Allegion plc has a 52-week low of $95.94 and a 52-week high of $146.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a 50 day moving average price of $136.04 and a 200 day moving average price of $128.15. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 4.38 and a beta of 1.12.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same quarter in the previous year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts expect that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.32%. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Barclays increased their price target on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.40.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.