5 Best Lumber Stocks to Buy Now

2. Enviva Partners, LP (NYSE: EVA)

Number of Hedge Fund Holders: 7   

Enviva Partners, LP (NYSE: EVA) is a Maryland-based wood company founded in 2004. It is placed second on our list of 10 best lumber stocks to buy now. The company’s shares have returned more than 43% to investors over the past year. The company is most famous for making and selling sustainable wood pellets, a coal alternative gaining popularity as environmental concerns grow over coal mining. The company aims to grow more trees and eventually replace coal as an energy source.

On April 28, Enviva Partners, LP (NYSE: EVA) posted earnings results for the first quarter of 2021, reporting earnings per share of -$0.27, missing market predictions by $0.04. The revenue over the period was $241 million, up close to 18% year-on-year. 

Enviva Partners, LP (NYSE: EVA) is a great income stock. On April 28, the firm declared a quarterly dividend of $0.785 per share, an increase of 0.6% from the previous dividend. The forward yield was 6.34%. 

At the end of the first quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $250 million in Enviva Partners, LP (NYSE: EVA), down from 9 in the preceding quarter worth $252 million.