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CARMEL, Ind. - Allegion US (NYSE:ALLE), a $14.9 billion market cap security products manufacturer with a perfect Piotroski Score of 9 according to InvestingPro, launched its new Schlage Performance Series Locks, now available to order, the company announced in a press release on Thursday. The new product line includes PM Series mortise, PC Series cylindrical, and PT Series tubular locks designed for commercial real estate and multifamily projects.
The Performance Series aims to address market challenges as non-residential construction costs have increased approximately 44 percent since 2020, putting pressure on project budgets. The new locks are positioned as mid-tier solutions that balance cost considerations with security needs. The launch comes as Allegion demonstrates strong financial performance, with $3.88 billion in revenue and healthy profit margins of nearly 45%.
The product lineup features three lock types: PM Series Grade 1 Mortise Locks with 23 mechanical and three electrified functions; PC Series Grade 1 Cylindrical Locks with eight mechanical functions; and PT Series Grade 2 Tubular Locks with four mechanical functions.
"With the Performance Series, property teams can outfit every door with hardware that works as hard as they do," said Nate Spitz, general manager of Locks & Access Solutions at Allegion.
The company will offer ProExpress priority delivery for select mortise and cylindrical models starting November 2025. Two new decorative levers, Selena and Playa, plus a square rose option on PM and PT Series, have been introduced to provide consistent aesthetics across installations.
The Performance Series will be showcased at the Yankee Security Convention in Springfield, Massachusetts on October 24-25 and at DHI Connextions in Fort Worth, Texas on November 5-6, according to the company statement.
In other recent news, Allegion plc reported second-quarter earnings that surpassed analyst expectations, driven by robust demand in the non-residential sector. The company also announced the acquisition of Brisant Secure Limited, a UK-based security hardware provider, enhancing Allegion’s market presence in the UK. Additionally, Allegion’s board of directors declared a quarterly dividend of $0.51 per share, payable on September 30, 2025, to shareholders recorded by September 15, 2025. In terms of analyst activity, Barclays upgraded Allegion’s stock to Equalweight, raising the price target to $163, citing a more stable outlook in non-residential construction markets. Mizuho also adjusted its price target for Allegion to $170, maintaining a Neutral rating, after discussions with the company’s CEO and VP of Investor Relations highlighted resilience in end-markets. These recent developments reflect a positive trajectory for Allegion amidst a challenging market environment.
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