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Tempur-Pedic (TPX) confirms that it's actively purchasing shares under terms of its share...

Tempur-Pedic (TPX) confirms that it's actively purchasing shares under terms of its share repurchase program. The company says that as of June 6, it had $200M left in buybacks still available. Shares -0.2% premarket.
Comments (5)
  • Mcwillifloor
    , contributor
    Comments (81) | Send Message
     
    Delighted! For a long term investor, it just doesn't get much better than this. TPX is already selling at a very reasonable price to its average three year earnings, even if it never grew again, which is quite unlikely given that a turnaround in housing will occur sometime during the decade. TPX can compete on price or branding, if it chooses, so competition is not a fatal concern. TPX's new factory and focus on foam insure that it can produce at lower costs than rivals saddled with older factories making increasingly unpopular spring mattresses and merely entering foam as a side business.

     

    Those like me who are doubling their positions now will gain even more as management buys shares in a great company, their own.
    8 Jun 2012, 01:00 PM Reply Like
  • chopchop0
    , contributor
    Comments (4008) | Send Message
     
    up 11%+ so far today. Impressive.
    8 Jun 2012, 02:05 PM Reply Like
  • gettingbeta
    , contributor
    Comments (53) | Send Message
     
    tpx call option up 50% in 1 day ..always wanted to enter this stock at reasonable price
    8 Jun 2012, 10:46 PM Reply Like
  • Mcwillifloor
    , contributor
    Comments (81) | Send Message
     
    Patience rewarded, Gettingbeta! Watching the speculators get washed out so value players can buy this great company is deeply gratifying. A 70% drop is normally the consequence of an accounting scandal, a huge fraud, a gulf oil spill or something of that ilk. Here, we merely have go-go speculators jumping ship for the flimsiest of reasons...an 8% profit decrease, leaving us with a fine company at a p/e of 8. Tempur will one day make chairs, recliners, and $500 queen sets, they'll team up with Dr. Scholls, all kinds of things. Other firms must be far more worried about Tempur's competitive threat than the reverse.
    9 Jun 2012, 10:32 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9973) | Send Message
     
    Worth putting on the watch list.
    11 Jun 2012, 06:34 PM Reply Like
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