Van ECK Associates Corp Makes New $3.27 Million Investment in Tempur Sealy International, Inc. (NYSE:TPX)

Van ECK Associates Corp acquired a new position in Tempur Sealy International, Inc. (NYSE:TPX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 64,221 shares of the company’s stock, valued at approximately $3,273,000.

Several other hedge funds have also recently made changes to their positions in the business. State of Michigan Retirement System increased 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 valued at $2,107,000 after purchasing an additional 200 shares during the period. Keystone Financial Group raised its stake in Tempur Sealy International by 3.7% in the third quarter. Keystone Financial Group now owns 8,831 shares of the company’s stock worth $383,000 after buying an additional 314 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Tempur Sealy International by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 73,280 shares of the company’s stock worth $3,176,000 after buying an additional 380 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Tempur Sealy International by 3.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,303 shares of the company’s stock valued at $490,000 after acquiring an additional 401 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings 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 worth $67,000 after acquiring an additional 421 shares during the period. 99.86% of the stock is owned by hedge funds and other institutional investors.

Tempur Sealy International Price Performance

Shares of TPX opened at $50.13 on Tuesday. Tempur Sealy International, Inc. has a twelve month low of $34.98 and a twelve month high of $57.13. The company has a market capitalization of $8.70 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. The firm has a 50 day moving average of $52.87 and a 200 day moving average of $48.63. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 7.81.

Tempur Sealy International (NYSE:TPX) last posted its earnings results on Thursday, February 8th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. 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 posted $0.54 EPS. As a group, equities research analysts anticipate that Tempur Sealy International, Inc. will post 2.75 earnings per share for the current fiscal year.

Tempur Sealy International Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on TPX. Truist Financial raised their target price on Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Loop Capital upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $75.00 in a research note on Monday, March 25th. Piper Sandler raised shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $61.00 in a research note on Thursday, January 18th. Wedbush restated an “outperform” rating and issued a $66.00 price objective on shares of Tempur Sealy International in a report on Tuesday, April 30th. Finally, Raymond James lifted their target price 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. One research 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, the stock presently has a consensus rating of “Buy” and a consensus target price 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.