Norges Bank Acquires New Shares in Tempur Sealy International, Inc. (NYSE:TPX)

Norges Bank acquired a new stake in shares of Tempur Sealy International, Inc. (NYSE:TPX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,380,401 shares of the company’s stock, valued at approximately $121,329,000. Norges Bank owned approximately 1.38% of Tempur Sealy International as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State of Michigan Retirement System raised its position in Tempur Sealy International by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 41,338 shares of the company’s stock worth $2,107,000 after purchasing an additional 200 shares during the last quarter. Natixis Advisors L.P. raised its position in Tempur Sealy International by 0.8% during the 4th quarter. Natixis Advisors L.P. now owns 30,952 shares of the company’s stock worth $1,577,000 after purchasing an additional 256 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Tempur Sealy International by 2.4% during the 4th quarter. First Trust Direct Indexing L.P. now owns 13,046 shares of the company’s stock worth $665,000 after purchasing an additional 306 shares during the last quarter. Keystone Financial Group raised its position in shares of Tempur Sealy International by 3.7% in the 3rd quarter. Keystone Financial Group now owns 8,831 shares of the company’s stock worth $383,000 after acquiring an additional 314 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Tempur Sealy International by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 73,280 shares of the company’s stock worth $3,176,000 after acquiring an additional 380 shares in the last quarter. 99.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Loop Capital raised Tempur Sealy International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $75.00 in a research report on Monday, March 25th. Wedbush reissued an “outperform” rating and issued a $66.00 price objective on shares of Tempur Sealy International in a research report on Wednesday, May 8th. KeyCorp lifted their price objective on Tempur Sealy International from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Truist Financial lifted their price objective on Tempur Sealy International from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tempur Sealy International has an average rating of “Buy” and a consensus price target of $62.71.

Tempur Sealy International Price Performance

TPX stock opened at $49.53 on Friday. The company has a market capitalization of $8.60 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.62 and a beta of 1.58. The company has a debt-to-equity ratio of 7.74, a quick ratio of 0.70 and a current ratio of 1.21. Tempur Sealy International, Inc. has a 52-week low of $34.98 and a 52-week high of $57.13. The business has a 50-day simple moving average of $52.39 and a two-hundred day simple moving average of $49.72.

Tempur Sealy International (NYSE:TPX) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 168.59% and a net margin of 7.32%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. Research analysts expect that Tempur Sealy International, Inc. will post 2.71 EPS for the current fiscal year.

Tempur Sealy International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.05%. Tempur Sealy International’s dividend payout ratio (DPR) is currently 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.