Lombard Odier Asset Management USA Corp Acquires 44,732 Shares of Tempur Sealy International, Inc. (NYSE:TPX)

Lombard Odier Asset Management USA Corp lifted its holdings in Tempur Sealy International, Inc. (NYSE:TPX) by 24.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,609 shares of the company’s stock after acquiring an additional 44,732 shares during the period. Tempur Sealy International accounts for about 0.3% of Lombard Odier Asset Management USA Corp’s portfolio, making the stock its 22nd biggest holding. Lombard Odier Asset Management USA Corp owned approximately 0.12% of Tempur Sealy International worth $8,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Route One Investment Company L.P. boosted its stake in Tempur Sealy International by 263.3% during the fourth quarter. Route One Investment Company L.P. now owns 6,881,148 shares of the company’s stock valued at $185,791,000 after buying an additional 4,987,111 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Tempur Sealy International by 300.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,872,336 shares of the company’s stock valued at $104,559,000 after buying an additional 2,905,111 shares during the last quarter. Norges Bank bought a new position in Tempur Sealy International during the fourth quarter valued at approximately $63,157,000. Lord Abbett & CO. LLC bought a new position in Tempur Sealy International during the first quarter valued at approximately $81,002,000. Finally, Nuveen Asset Management LLC boosted its stake in Tempur Sealy International by 176.0% during the fourth quarter. Nuveen Asset Management LLC now owns 2,682,027 shares of the company’s stock valued at $72,414,000 after buying an additional 1,710,360 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

TPX has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Tempur Sealy International in a research note on Tuesday, March 30th. They set a “hold” rating and a $38.00 price target for the company. Truist increased their price target on Tempur Sealy International from $45.00 to $50.00 in a research note on Friday, April 30th. KeyCorp raised their price objective on Tempur Sealy International from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, April 30th. Truist Securities raised their price objective on Tempur Sealy International from $45.00 to $50.00 in a research note on Friday, April 30th. Finally, UBS Group raised their price objective on Tempur Sealy International from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, April 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.73.

In other Tempur Sealy International news, CFO Bhaskar Rao sold 141,094 shares of the firm’s stock in a transaction on Thursday, July 8th. The stock was sold at an average price of $38.41, for a total transaction of $5,419,420.54. Following the transaction, the chief financial officer now directly owns 283,886 shares in the company, valued at approximately $10,904,061.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert B. Trussell, Jr. sold 10,804 shares of the firm’s stock in a transaction on Friday, June 4th. The stock was sold at an average price of $38.00, for a total value of $410,552.00. Following the transaction, the director now owns 43,459 shares in the company, valued at $1,651,442. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,485 shares of company stock worth $6,407,618. Company insiders own 3.78% of the company’s stock.

Shares of NYSE TPX traded down $0.44 during midday trading on Thursday, hitting $39.96. The company’s stock had a trading volume of 4,523 shares, compared to its average volume of 1,493,261. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 5.73. The business’s 50 day moving average price is $38.61. Tempur Sealy International, Inc. has a 12-month low of $18.06 and a 12-month high of $42.60. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.65 and a beta of 2.03.

Tempur Sealy International (NYSE:TPX) last issued its quarterly earnings results on Thursday, April 29th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.12. Tempur Sealy International had a return on equity of 123.25% and a net margin of 10.76%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. As a group, research analysts expect that Tempur Sealy International, Inc. will post 2.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. Tempur Sealy International’s payout ratio is 14.66%.

Tempur Sealy International Profile

Tempur Sealy International, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes bedding products in the United States, Canada, 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, Tempur-Pedic, Sealy, Comfort Revolution, and Stearns & Foster brands.

See Also: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Tempur Sealy International (NYSE:TPX)

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