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

Tempur Sealy International, Inc. (NYSE:TPX) was the target of unusually large options trading activity on Tuesday. Investors purchased 11,998 put options on the stock. This represents an increase of approximately 293% compared to the typical daily volume of 3,054 put options.

Tempur Sealy International Price Performance

Tempur Sealy International stock opened at $48.32 on Wednesday. The business has a 50 day simple moving average of $50.10 and a 200 day simple moving average of $51.23. The company has a debt-to-equity ratio of 7.74, a current ratio of 1.21 and a quick ratio of 0.70. The company has a market capitalization of $8.39 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.60. Tempur Sealy International has a one year low of $36.12 and a one year high of $57.13.

Tempur Sealy International (NYSE:TPX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tempur Sealy International had a return on equity of 168.59% and a net margin of 7.32%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $0.53 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Tempur Sealy International will post 2.71 EPS for the current fiscal year.

Tempur Sealy International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.08%. Tempur Sealy International’s dividend payout ratio (DPR) is presently 25.74%.

Institutional Trading of Tempur Sealy International

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tempur Sealy International in the first quarter valued at $26,000. Rise Advisors LLC bought a new position in shares of Tempur Sealy International in the first quarter worth about $27,000. Principal Securities Inc. bought a new position in shares of Tempur Sealy International in the fourth quarter worth about $40,000. J.Safra Asset Management Corp lifted its position in shares of Tempur Sealy International by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 1,028 shares of the company’s stock worth $58,000 after purchasing an additional 457 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Tempur Sealy International by 4,996.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock valued at $70,000 after purchasing an additional 1,349 shares during the last quarter. 99.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPX. Wedbush reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Tempur Sealy International in a research report on Thursday, June 20th. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Tempur Sealy International in a research report on Tuesday. Finally, Loop Capital raised Tempur Sealy International from a “hold” rating to a “buy” rating and raised their target price for the stock from $50.00 to $75.00 in a research report on Monday, March 25th. One equities research 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. According to data from 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.