5 Best Lumber Stocks To Invest In 2023

In this piece, we will take a look at the five best lumber stocks to invest in 2023. If you want to learn more about the lumber industry and some recent trends, then read 10 Best Lumber Stocks To Invest In 2023.

5. American Woodmark Corporation (NASDAQ:AMWD)

Number of Hedge Fund Investors In Q3 2023: 20

American Woodmark Corporation (NASDAQ:AMWD) makes and sells wood products such as cabinets. It is one of the poorest rated stocks on our list, as analysts have rated the shares as Hold on average. However, this hasn’t stopped one of the biggest investors in the world, Vanguard, from buying its shares as the firm bought close to 80,000 American Woodmark Corporation (NASDAQ:AMWD) shares in October.

During Q3 2023, 20 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in American Woodmark Corporation (NASDAQ:AMWD). Out of these, the biggest shareholder was Richard S. Pzena’s Pzena Investment Management due to its $51.3 million investment.

4. JELD-WEN Holding, Inc. (NYSE:JELD)

Number of Hedge Fund Investors In Q3 2023: 22

JELD-WEN Holding, Inc. (NYSE:JELD) sells doors, windows, boards, and other associated products. The firm posted a strong set of third quarter results in November 2023, which saw it turn a loss in the year ago quarter into a profit and upgrade its full year operating income guidance.

Insider Monkey scoured through 910 hedge funds for their September quarter of 2023 shareholdings to find 22 JELD-WEN Holding, Inc. (NYSE:JELD) investors. Richard S. Pzena’s Pzena Investment Management owned the largest stake among these which was worth $102 million.

3. Simpson Manufacturing Co., Inc. (NYSE:SSD)

Number of Hedge Fund Investors In Q3 2023: 22

Simpson Manufacturing Co., Inc. (NYSE:SSD) makes and sells wood based products to the construction industry. The firm’s revenue grew by 4.8% annually in its third quarter, and the EPS added to three consecutive prior analyst beats. To boot, the shares are also rated Strong Buy on average with an average share price target of $170.25.

As of the end of this year’s third quarter, 22 out of the 910 hedge funds profiled by Insider Monkey had bought and owned Simpson Manufacturing Co., Inc. (NYSE:SSD)’s shares. The firm’s biggest hedge fund investor is John W. Rogers’ Ariel Investments due to its $63.5 million stake.

2. Weyerhaeuser Company (NYSE:WY)

Number of Hedge Fund Investors In Q3 2023: 24

Weyerhaeuser Company (NYSE:WY) is the second timberland real estate investment trust on our list. Like other timber companies, it also fell victim to a slow construction industry in the third quarter as its log sales dropped by 9.2% annually.

Insider Monkey took a look at 910 hedge fund portfolios for their September quarter of 2023 shareholdings to find that 24 had bought the firm’s shares. Weyerhaeuser Company (NYSE:WY)’s largest stakeholder among these was Jean-Marie Eveillard’s First Eagle Investment Management as it owned $438 million worth of shares.

1. Louisiana-Pacific Corporation (NYSE:LPX)

Number of Hedge Fund Investors In Q3 2023: 38

Louisiana-Pacific Corporation (NYSE:LPX) is a building products company that sells board panels and related items. Its shares are rated Buy on average and analysts have set an average share price target of $70.38.

During Q3 2023, 38 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Louisiana-Pacific Corporation (NYSE:LPX). Warren Buffett’s Berkshire Hathaway owned the biggest stake among these which was worth $389 million.

Disclosure: None. You can also take a look at Citadel Stock Holdings: 12 Biggest Energy Stocks and 20 Top Selling Water Brands in the US.

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