TEMPUR SEALY $58.14

TEMPUR SEALY $58.14 (New York symbol TPX; TSINetwork Rating: Speculative) (800- 878-8889; www.tempursealy.com; Shares o/s: 60.9 million; Market cap: $3.5 billion; No dividends paid) announced that it will increase its share buyback program by another $200 million.

Since Tempur Sealy started the program on February 4, 2016, it has already repurchased about 3.4 million shares for $195 million. That has reduced the number of outstanding shares by 5.2%.

However, even with the buybacks, the stock trades at a high 25.8 times the company’s forecast 2016 earnings of $2.25 a share.

Tempur Sealy is still a hold.

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