State of Michigan Retirement System Grows Position in Tempur Sealy International, Inc. (NYSE:TPX)

State of Michigan Retirement System boosted its stake in shares of Tempur Sealy International, Inc. (NYSE:TPX) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,338 shares of the company’s stock after purchasing an additional 1,000 shares during the period. State of Michigan Retirement System’s holdings in Tempur Sealy International were worth $2,406,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPX. Linonia Partnership LP purchased a new stake in Tempur Sealy International during the 4th quarter worth approximately $121,445,000. Norges Bank purchased a new stake in Tempur Sealy International during the 4th quarter worth approximately $121,329,000. Browning West LP grew its position in Tempur Sealy International by 7.0% during the 4th quarter. Browning West LP now owns 12,611,189 shares of the company’s stock worth $642,792,000 after purchasing an additional 820,200 shares during the last quarter. Forest Avenue Capital Management LP purchased a new stake in Tempur Sealy International during the 4th quarter worth approximately $20,454,000. Finally, Goodnow Investment Group LLC boosted its holdings in shares of Tempur Sealy International by 47.9% in the 4th quarter. Goodnow Investment Group LLC now owns 773,677 shares of the company’s stock valued at $39,434,000 after acquiring an additional 250,407 shares during the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Stock Performance

Shares of NYSE TPX opened at $46.76 on Thursday. The company’s fifty day moving average price is $50.02 and its 200 day moving average price is $51.20. Tempur Sealy International, Inc. has a 1 year low of $36.12 and a 1 year high of $57.13. The company has a market capitalization of $8.12 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.60. 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 (NYSE:TPX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $1.19 billion for 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 quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, research analysts predict that Tempur Sealy International, Inc. will post 2.71 earnings per share for the current year.

Tempur Sealy International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, May 15th. Tempur Sealy International’s dividend payout ratio is presently 25.74%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TPX shares. Loop Capital raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $75.00 in a report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Tempur Sealy International in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $61.00 price objective on shares of Tempur Sealy International in a report on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Tempur Sealy International in a report on Tuesday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tempur Sealy International 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.