5 Best Lumber Stocks to Buy Now

4. UFP Industries, Inc. (NASDAQ: UFPI)

Number of Hedge Fund Holders: 16  

UFP Industries, Inc. (NASDAQ: UFPI) is a Michigan-based lumber company founded in 1955. It is placed fourth on our list of 10 best lumber stocks to buy now. The stock has returned more than 50% to investors over the course of the past year. The company sells wood-related products in North America, Europe, Asia, and Australia. It markets outdoor living products, garden products, and engineered wood products, among others. The firm has a market cap of over $4.5 billion and posted more than $5 billion in revenue last year. 

UFP Industries, Inc. (NASDAQ: UFPI) declared quarterly earnings on April 21, reporting earnings per share of $1.67, beating market expectations by $0.79. The revenue over the period was $1.8 billion, up 77% year-on-year. 

UFP Industries, Inc. (NASDAQ: UFPI) is a great stock for income investors. In February, the firm raised its dividend by 20%. On March 30, investment advisory Stifel gave the stock a Buy rating with a price target of $75. 

At the end of the first quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $171 million in UFP Industries, Inc. (NASDAQ: UFPI), down from 19 in the preceding quarter worth $118 million.