Van ECK Associates Corp Raises Position in Tempur Sealy International, Inc. (NYSE:TPX)

Van ECK Associates Corp lifted its stake in shares of Tempur Sealy International, Inc. (NYSE:TPX) by 36.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,669 shares of the company’s stock after purchasing an additional 23,448 shares during the period. Van ECK Associates Corp owned 0.05% of Tempur Sealy International worth $4,981,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Argent Capital Management LLC increased its stake in shares of Tempur Sealy International by 0.8% during the 1st quarter. Argent Capital Management LLC now owns 64,940 shares of the company’s stock worth $3,690,000 after purchasing an additional 505 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Tempur Sealy International in the 1st quarter valued at approximately $26,000. Principal Financial Group Inc. grew its stake in Tempur Sealy International by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 648,880 shares of the company’s stock valued at $36,869,000 after buying an additional 15,347 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Tempur Sealy International by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 49,600 shares of the company’s stock valued at $2,818,000 after buying an additional 1,200 shares in the last quarter. Finally, Nilsine Partners LLC grew its stake in Tempur Sealy International by 1.1% in the 1st quarter. Nilsine Partners LLC now owns 183,702 shares of the company’s stock valued at $10,438,000 after buying an additional 1,909 shares in the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TPX. Wedbush reiterated an “outperform” rating and issued a $66.00 price objective on shares of Tempur Sealy International in a research note on Wednesday. Piper Sandler restated an “overweight” rating and set a $61.00 price target on shares of Tempur Sealy International in a research report on Wednesday. Truist Financial restated a “buy” rating and set a $65.00 price target on shares of Tempur Sealy International in a research report on Tuesday. Finally, Loop Capital upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $75.00 in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $62.71.

Tempur Sealy International Price Performance

Shares of NYSE TPX traded down $1.44 during mid-day trading on Friday, reaching $45.33. 1,720,906 shares of the company were exchanged, compared to its average volume of 1,658,469. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 7.74. The stock has a market capitalization of $7.87 billion, a PE ratio of 23.15, a PEG ratio of 1.48 and a beta of 1.60. The company’s 50 day moving average price is $49.96 and its 200 day moving average price is $51.17. Tempur Sealy International, Inc. has a 52 week low of $36.12 and a 52 week high of $57.13.

Tempur Sealy International (NYSE:TPX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Tempur Sealy International had a net margin of 7.32% and a return on equity of 168.59%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts forecast that Tempur Sealy International, Inc. will post 2.71 earnings per share for the current fiscal year.

Tempur Sealy International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Wednesday, May 15th. Tempur Sealy International’s dividend payout ratio (DPR) is 25.74%.

About Tempur Sealy International

Tempur Sealy International, Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names.