Investors Purchase Large Volume of Tempur Sealy International Put Options (NYSE:TPX)

Tempur Sealy International, Inc. (NYSE:TPX) saw unusually large options trading on Tuesday. Stock traders bought 8,790 put options on the stock. This represents an increase of 334% compared to the average volume of 2,026 put options.

Tempur Sealy International Stock Up 5.5 %

Shares of TPX traded up $2.77 during midday trading on Tuesday, hitting $52.90. 1,275,029 shares of the company’s stock traded hands, compared to its average volume of 1,658,146. The company has a current ratio of 1.21, a quick ratio of 0.68 and a debt-to-equity ratio of 7.81. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. Tempur Sealy International has a 1 year low of $34.98 and a 1 year high of $57.13. The firm’s fifty day moving average is $52.87 and its 200-day moving average is $48.63.

Tempur Sealy International (NYSE:TPX) last released its quarterly 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). Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tempur Sealy International will post 2.75 earnings per share for the current year.

Tempur Sealy International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.98%. 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. Tempur Sealy International’s payout ratio is currently 25.12%.

Analysts Set New Price Targets

Several equities analysts have recently commented on TPX shares. Truist Financial raised their price target 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 boosted their price target for the company from $50.00 to $75.00 in a report on Monday, March 25th. KeyCorp increased their price objective on shares of Tempur Sealy International from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Wedbush reissued an “outperform” rating and issued a $66.00 price objective on shares of Tempur Sealy International in a research note on Tuesday, April 30th. Finally, Raymond James upped their target price on Tempur Sealy International from $45.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tempur Sealy International presently has an average rating of “Buy” and a consensus target price of $62.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tempur Sealy International during the first quarter valued at $26,000. Rise Advisors LLC purchased a new stake in Tempur Sealy International during the 1st quarter valued at about $27,000. Principal Securities Inc. purchased a new stake in Tempur Sealy International during the 4th quarter valued at about $40,000. Fifth Third Bancorp increased its holdings in shares of Tempur Sealy International by 37.7% in the third quarter. Fifth Third Bancorp now owns 1,537 shares of the company’s stock valued at $67,000 after purchasing an additional 421 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Tempur Sealy International by 4,996.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock worth $70,000 after purchasing an additional 1,349 shares during the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

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.