雅虎香港財經 Allegion (ALLE) Boosts Product Portfolio With Krieger Buyout
Allegion plc ALLE acquired Krieger Specialty Products LLC (Krieger) through one of its subsidiaries. The financial terms of the transaction have been kept under wraps.
Headquartered in Los Angeles, CA, Krieger is engaged in producing high-performance doors and windows for industrial, commercial and institutional end markets. The company’s products are used in acoustical, bullet, forced entry, blast and radio frequency applications.
Acquisition Rationale
The latest buyout is in sync with Allegion’s policy of acquiring businesses to expand its market share and customer base. The inclusion of Krieger’s expertise in specialty solutions, coupled with its strong innovation capabilities, will enable Allegion to boost its door and frame portfolio. It will also help ALLE expand its presence in lucrative institutional end markets.
Krieger will be incorporated into the company’s Allegion Americas segment and will be led by its senior vice president, Dave Ilardi.
Acquisitions are an essential aspect of Allegion's growth strategy. The company is trying to improve its long-term results by focusing on strategic acquisitions and regular innovations. In March, ALLE acquired Dorcas, which enabled the company to boost its security products portfolio. In February 2024, it acquired Boss Door Controls, thereby expanding its U.K. business with a complementary portfolio and broader channel access. In January, it acquired assets of software-as-a-service (SaaS) workforce management solutions company Plano Group. The buyout expanded the company’s Interflex portfolio and its AWFM business with new capabilities in SaaS models.
Zacks Rank and Price Performance
ALLE currently carries a Zacks Rank #2 (Buy).
Strong momentum in the Allegion International segment is supporting the company’s performance. An increase in demand for electronic security products, driven by growing awareness about the security and safety of people and infrastructure, is aiding the segment.
In the past year, the stock has gained 6.8% compared with the industry’s 16.7% growth.
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Other Stocks to Consider
Some other top-ranked companies from the Industrial Products sector are discussed below.
Applied Industrial Technologies, Inc. AIT presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has improved 1.4% in the past 60 days. The stock has risen 41.1% in the past year.
Belden Inc. BDC currently has a Zacks Rank of 2 and a trailing four-quarter earnings surprise of 14.7%, on average.
The consensus estimate for BDC’s 2024 earnings has increased 8.3% in the past 60 days. Shares of Belden have gained 4.4% in the past year.
Crane Company CR presently carries a Zacks Rank of 2. CR delivered a trailing four-quarter earnings surprise of 15.2%, on average.
The Zacks Consensus Estimate for CR’s 2024 earnings has increased 4% in the past 60 days. Its shares have gained 83.4% in the past year.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
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Allegion PLC (ALLE) : Free Stock Analysis Report
