Handelsbanken Fonder AB Increases Stock Position in Tempur Sealy International, Inc. (NYSE:TPX)

Handelsbanken Fonder AB boosted its stake in Tempur Sealy International, Inc. (NYSE:TPX) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,120 shares of the company’s stock after purchasing an additional 7,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Tempur Sealy International were worth $1,994,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TPX. Fifth Third Bancorp raised its position in shares of Tempur Sealy International by 37.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,537 shares of the company’s stock valued at $67,000 after buying an additional 421 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Tempur Sealy International by 4,996.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock valued at $70,000 after buying an additional 1,349 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Tempur Sealy International during the 3rd quarter valued at about $93,000. Duality Advisers LP purchased a new stake in shares of Tempur Sealy International during the 3rd quarter valued at about $201,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Tempur Sealy International during the 3rd quarter valued at about $202,000. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Price Performance

Shares of TPX stock opened at $49.92 on Friday. The company has a debt-to-equity ratio of 7.81, a current ratio of 1.21 and a quick ratio of 0.68. The company has a market capitalization of $8.67 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.15 and a beta of 1.56. The company’s 50-day simple moving average is $52.95 and its two-hundred day simple moving average is $48.13. Tempur Sealy International, Inc. has a one year low of $34.98 and a one year high of $57.13.

Tempur Sealy International (NYSE:TPX) last issued its earnings results on Thursday, February 8th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. Tempur Sealy International’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, equities analysts anticipate that Tempur Sealy International, Inc. will post 2.75 EPS for the current year.

Tempur Sealy International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Tempur Sealy International’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.04%. Tempur Sealy International’s dividend payout ratio (DPR) is currently 25.12%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and upped their target price for the company from $41.00 to $61.00 in a research report on Thursday, January 18th. Raymond James upped their price target on shares of Tempur Sealy International from $45.00 to $58.00 and gave the company a “strong-buy” rating in a report on Friday, January 19th. Truist Financial upped their price target on shares of Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 5th. KeyCorp upped their price target on shares of Tempur Sealy International from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, Wedbush reiterated an “outperform” rating and set a $66.00 price target on shares of Tempur Sealy International in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $62.71.

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.