State of New Jersey Common Pension Fund D Sells 29,019 Shares of Tempur Sealy International, Inc. (NYSE:TPX)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Tempur Sealy International, Inc. (NYSE:TPX) by 32.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,614 shares of the company’s stock after selling 29,019 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tempur Sealy International were worth $2,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Tempur Sealy International in the 4th quarter worth approximately $40,000. Dimensional Fund Advisors LP grew its position in Tempur Sealy International by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,995,201 shares of the company’s stock worth $101,699,000 after acquiring an additional 31,789 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Tempur Sealy International by 60.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,657 shares of the company’s stock valued at $900,000 after acquiring an additional 6,639 shares during the last quarter. Norges Bank purchased a new stake in Tempur Sealy International during the fourth quarter valued at about $121,329,000. Finally, Commerce Bank raised its position in Tempur Sealy International by 5.9% during the fourth quarter. Commerce Bank now owns 11,733 shares of the company’s stock valued at $598,000 after purchasing an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Price Performance

TPX opened at $52.97 on Thursday. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.21 and a quick ratio of 0.68. Tempur Sealy International, Inc. has a 1 year low of $36.12 and a 1 year high of $57.13. The stock’s 50 day simple moving average is $50.74 and its 200 day simple moving average is $51.05. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.20 and a beta of 1.59.

Tempur Sealy International (NYSE:TPX) last issued 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). Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, analysts predict that Tempur Sealy International, Inc. will post 2.53 earnings per share for the current year.

Tempur Sealy International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, August 15th. Tempur Sealy International’s dividend payout ratio (DPR) is 25.74%.

Analyst Ratings Changes

TPX has been the subject of a number of research reports. Truist Financial cut their price objective on Tempur Sealy International from $65.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Wedbush lowered Tempur Sealy International from an “outperform” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Wednesday, September 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $61.00 price target 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.71.

Tempur Sealy International Profile

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.