undervalued dividend grower with durable demand
ALLE looks like a bargain dividend grower because it sells security products with durable demand, has raised its dividend for 13 straight years, carries a market-beating ~1.5% yield with a ~30% payout ratio, and screens cheap on valuation after a ~20% pullback (P/E ~19.5 vs ~21.3 five-year average; DCF fair value ~$181.7 vs ~23% claimed undervaluation).
ALLE has raised its dividend for 13 consecutive years, maintains a conservative ~30% payout ratio, and trades at a ~23% discount to DCF fair value after a ~20% pullback. Security-product demand and data-center exposure support margin expansion and ongoing buybacks.
6mo
"A Buffett-owned dividend grower in the bargain bin."