5 Best Paper Stocks To Buy Now

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

Number of Hedge Fund Holders: 23

UFP Industries, Inc. (NASDAQ:UFPI) is a Michigan-based lumber company that operates in the building materials industry. It specializes in the design, manufacturing, and distribution of a wide range of wood-based products, components, and other building materials. It is among the best paper stocks on our list.

At the end of March 31, UFP Industries, Inc. (NASDAQ:UFPI) had over $423.2 million available in cash and cash equivalents, compared with $73.7 million during the same period last year. The company’s revenue for the quarter came in at over $1.82 billion.

As of the close of Q1 2023, 23 hedge funds owned stakes in UFP Industries, Inc. (NASDAQ:UFPI), up from 19 in the previous quarter, according to Insider Monkey’s database. These stakes are collectively valued at roughly $140 million.