Forest Avenue Capital Management LP Increases Position in Tempur Sealy International, Inc. (NYSE:TPX)

Forest Avenue Capital Management LP increased its stake in Tempur Sealy International, Inc. (NYSE:TPX - Free Report) by 52.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 857,722 shares of the company's stock after acquiring an additional 294,222 shares during the quarter. Tempur Sealy International makes up 5.6% of Forest Avenue Capital Management LP's holdings, making the stock its 7th largest holding. Forest Avenue Capital Management LP owned about 0.49% of Tempur Sealy International worth $40,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of Tempur Sealy International by 0.6% during the first quarter. Toronto Dominion Bank now owns 32,820 shares of the company's stock valued at $1,865,000 after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC raised its stake in Tempur Sealy International by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,574 shares of the company's stock valued at $1,495,000 after purchasing an additional 220 shares during the period. J.Safra Asset Management Corp lifted its holdings in shares of Tempur Sealy International by 23.8% in the second quarter. J.Safra Asset Management Corp now owns 1,273 shares of the company's stock valued at $60,000 after purchasing an additional 245 shares in the last quarter. Signaturefd LLC boosted its position in shares of Tempur Sealy International by 35.1% in the second quarter. Signaturefd LLC now owns 981 shares of the company's stock worth $46,000 after buying an additional 255 shares during the period. Finally, Hanlon Investment Management Inc. boosted its position in shares of Tempur Sealy International by 1.9% in the second quarter. Hanlon Investment Management Inc. now owns 14,050 shares of the company's stock worth $665,000 after buying an additional 261 shares during the period. 99.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TPX has been the subject of several research analyst reports. Wedbush downgraded Tempur Sealy International from an "outperform" rating to a "neutral" rating and set a $52.00 price objective for the company. in a research note on Wednesday, September 4th. Truist Financial reduced their price target on shares of Tempur Sealy International from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, July 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $61.00 price objective on shares of Tempur Sealy International in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.71.

Tempur Sealy International Stock Down 1.7 %

Shares of NYSE TPX traded down $0.92 during trading hours on Friday, hitting $53.77. The stock had a trading volume of 1,933,895 shares, compared to its average volume of 1,610,007. The firm's 50-day moving average price is $51.07 and its two-hundred day moving average price is $51.08. Tempur Sealy International, Inc. has a 52 week low of $36.12 and a 52 week high of $57.13. The company has a market capitalization of $9.34 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.20 and a beta of 1.59. The company has a debt-to-equity ratio of 5.92, a quick ratio of 0.68 and a current ratio of 1.21.

Tempur Sealy International (NYSE:TPX - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The business's revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. Analysts anticipate that Tempur Sealy International, Inc. will post 2.53 EPS for the current fiscal year.

Tempur Sealy International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. Tempur Sealy International's dividend payout ratio is currently 25.74%.

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.