Salvus Wealth Management LLC Acquires 17,574 Shares of Somnigroup International Inc. $SGI

Salvus Wealth Management LLC increased its stake in Somnigroup International Inc. (NYSE:SGI) by 31.5% during the third quarter, HoldingsChannel reports. The firm owned 73,425 shares of the company’s stock after acquiring an additional 17,574 shares during the period. Somnigroup International accounts for approximately 2.4% of Salvus Wealth Management LLC’s holdings, making the stock its 9th biggest position. Salvus Wealth Management LLC’s holdings in Somnigroup International were worth $4,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of SGI. BlackRock Inc. acquired a new position in shares of Somnigroup International in the second quarter worth $1,507,604,000. Linonia Partnership LP bought a new stake in Somnigroup International during the second quarter valued at about $519,372,000. Artisan Partners Limited Partnership bought a new position in Somnigroup International in the 4th quarter worth approximately $274,323,000. Allspring Global Investments Holdings LLC grew its position in Somnigroup International by 62.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,046,320 shares of the company’s stock worth $224,240,000 after purchasing an additional 1,171,485 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Somnigroup International in the 2nd quarter valued at approximately $204,632,000. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Somnigroup International Price Performance

Shares of SGI stock traded up $0.61 during trading hours on Tuesday, hitting $63.01. 1,734,400 shares of the company’s stock were exchanged, compared to its average volume of 2,773,273. Somnigroup International Inc. has a 52 week low of $60.08 and a 52 week high of $98.56. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.75 and a quick ratio of 0.37. The stock’s 50-day moving average is $64.74 and its 200-day moving average is $70.04.

Somnigroup International (NYSE:SGI) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%. The business had revenue of $1.82 billion during the quarter. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. As a group, research analysts forecast that Somnigroup International Inc. will post 3.11 EPS for the current year.

Somnigroup International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, August 20th. Somnigroup International’s dividend payout ratio (DPR) is presently 27.20%.

Analysts Set New Price Targets

A number of analysts recently weighed in on SGI shares. Wall Street Zen raised shares of Somnigroup International from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Zelman & Associates assumed coverage on shares of Somnigroup International in a report on Tuesday, June 23rd. They set an “outperform” rating and a $99.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective (up from $95.00) on shares of Somnigroup International in a report on Thursday, September 3rd. Morgan Stanley started coverage on shares of Somnigroup International in a research note on Monday, July 27th. They issued an “overweight” rating and a $95.00 target price for the company. Finally, UBS Group boosted their target price on Somnigroup International from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $95.00.

Insider Buying and Selling at Somnigroup International

In related news, CEO Scott Thompson bought 30,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the completion of the purchase, the chief executive officer owned 4,123,634 shares in the company, valued at approximately $259,129,160.56. The trade was a 0.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.99% of the company’s stock.

Somnigroup International Company Profile

Somnigroup International Inc is a global bedding company that designs, manufactures, distributes and sells mattresses, foundations, pillows, adjustable bases and other sleep-related products. The company serves consumers through wholesale distribution, company-operated and third-party retail locations, e-commerce platforms and hospitality channels.

Its portfolio includes well-known brands such as Tempur-Pedic, Sealy and Stearns & Foster, as well as products sold through the Mattress Firm retail banner.