5 Best Lumber Stocks to Buy Now

In this article, we discuss the 5 best lumber stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Lumber Stocks to Buy Now.

5. Boise Cascade Company (NYSE: BCC)

Number of Hedge Fund Holders: 16    

Boise Cascade Company (NYSE: BCC) is an Idaho-based company that makes and sells wood products. It was founded in 1957 and is ranked fifth on our list of 10 best lumber stocks to buy now. The company’s shares have returned more than 71% to investors over the past year. The wood products marketed by the company are used in construction of homes, repair or remodeling, as well as light commercial and industrial purposes. The lumber, plywood and other items sold by the firm are used as building materials. 

On May 6, Boise Cascade Company (NYSE: BCC) posted earnings results for the first quarter of 2021, reporting earnings per share of $3.76, beating market expectations by $1.14. The revenue over the period was $1.8 billion, up 55% year-on-year. 

On March 12, investment advisory Bank of America downgraded Boise Cascade Company (NYSE: BCC) stock to Underperform from Neutral with a price target of $54 on the back of fears of plywood import impacting the housing market in the Americas.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Royce & Associates is a leading shareholder in Boise Cascade Company (NYSE: BCC) with 205,203 shares worth more than $12.2 million.