Kornitzer Capital Management Inc. KS Has $10,442,000 Position in Allegion PLC (ALLE)
Kornitzer Capital Management Inc. KS cut its stake in shares of Allegion PLC (NYSE:ALLE) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,400 shares of the company’s stock after selling 39,765 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.16% of Allegion PLC worth $10,442,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ALLE. Westend Capital Management LLC purchased a new stake in shares of Allegion PLC during the first quarter valued at approximately $151,000. Boys Arnold & Co. Inc. purchased a new stake in shares of Allegion PLC during the second quarter valued at approximately $310,000. Park National Corp OH increased its stake in shares of Allegion PLC by 1.2% in the second quarter. Park National Corp OH now owns 4,708 shares of the company’s stock valued at $327,000 after buying an additional 55 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Allegion PLC during the first quarter valued at approximately $326,000. Finally, Oakbrook Investments LLC increased its stake in shares of Allegion PLC by 7.2% in the second quarter. Oakbrook Investments LLC now owns 5,180 shares of the company’s stock valued at $360,000 after buying an additional 350 shares in the last quarter. Institutional investors own 90.33% of the company’s stock.
Shares of Allegion PLC (NYSE:ALLE) traded up 1.73% during mid-day trading on Friday, hitting $67.69. 840,383 shares of the company were exchanged. The company has a 50 day moving average of $68.57 and a 200 day moving average of $68.25. The company has a market capitalization of $6.49 billion, a P/E ratio of 33.23 and a beta of 1.04. Allegion PLC has a 52 week low of $52.95 and a 52 week high of $73.49.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.09. The business earned $584.90 million during the quarter, compared to analyst estimates of $574.13 million. Allegion PLC had a net margin of 9.06% and a return on equity of 476.64%. Allegion PLC’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. Equities analysts anticipate that Allegion PLC will post $3.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.71%. Allegion PLC’s dividend payout ratio is currently 23.53%.
A number of research firms recently issued reports on ALLE. Credit Suisse Group AG restated a “buy” rating on shares of Allegion PLC in a report on Saturday, July 9th. Zacks Investment Research upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Tuesday, June 28th. Berenberg Bank began coverage on shares of Allegion PLC in a report on Thursday, October 6th. They set a “buy” rating and a $80.00 price objective for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Allegion PLC in a report on Monday, June 27th. Finally, Imperial Capital downgraded shares of Allegion PLC from an “outperform” rating to an “in-line” rating and raised their price objective for the stock from $71.00 to $79.00 in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $75.00.
In other Allegion PLC news, insider Douglas P. Ranck sold 9,300 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $72.90, for a total transaction of $677,970.00. Following the completion of the sale, the insider now directly owns 11,544 shares in the company, valued at approximately $841,557.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Feng William Yu sold 21,535 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $72.80, for a total transaction of $1,567,748.00. Following the sale, the insider now owns 53,539 shares of the company’s stock, valued at $3,897,639.20. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.
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