This Lumber Stock Should Continue to Thrive Beyond the Housing Boom
The housing market is booming, especially new construction in hot markets from Idaho to Texas. That means higher demand for lumber, which is outpacing what sawmills can handle.
The stock market has more than doubled from the COVID-19 low in late March 2020 while lumber prices have more than quintupled, notching another record high on Friday at more than $1,600 per thousand board feet. As one of the largest timberland owners and sawmill operators in North America, Weyerhaeuser (NYSE: WY) is a key beneficiary of the lumber boom. The company is posting some monster results, but it's really strong fundamentals that are paving the way for lasting gains. Here's why Weyerhaeuser is positioned to thrive beyond the current housing boom.
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Source Fool.com
