Investors Buy High Volume of Tempur Sealy International Put Options (NYSE:TPX)

Tempur Sealy International, Inc. (NYSE:TPX) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 8,790 put options on the company. This is an increase of 334% compared to the typical volume of 2,026 put options.

Tempur Sealy International Stock Up 0.1 %

TPX opened at $52.12 on Thursday. The company has a market capitalization of $9.05 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. The business has a 50-day moving average of $52.81 and a 200-day moving average of $48.74. Tempur Sealy International has a fifty-two week low of $34.98 and a fifty-two week high of $57.13. The company has a debt-to-equity ratio of 7.81, a current ratio of 1.21 and a quick ratio of 0.68.

Tempur Sealy International (NYSE:TPX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Tempur Sealy International will post 2.75 EPS for the current fiscal year.

Tempur Sealy International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, May 15th. Tempur Sealy International’s payout ratio is 25.12%.

Institutional Trading of Tempur Sealy International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Tempur Sealy International by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,924,287 shares of the company’s stock valued at $811,661,000 after acquiring an additional 108,801 shares during the last quarter. Browning West LP boosted its position in Tempur Sealy International by 7.0% during the fourth 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 period. Lone Pine Capital LLC acquired a new position in Tempur Sealy International during the third quarter valued at approximately $206,809,000. Linonia Partnership LP bought a new position in shares of Tempur Sealy International in the fourth quarter valued at approximately $121,445,000. Finally, Norges Bank acquired a new stake in shares of Tempur Sealy International in the fourth quarter worth $121,329,000. Institutional investors and hedge funds own 99.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in 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. 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. Raymond James lifted their price objective on shares of Tempur Sealy International from $45.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 19th. Loop Capital raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $75.00 in a research note on Monday, March 25th. Finally, Piper Sandler upgraded shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $61.00 in a report on Thursday, January 18th. 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, the company presently has an average rating of “Buy” and an average 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.