10 Best Lumber Stocks To Buy Right Now

3. Boise Cascade Company (NYSE:BCC)

Number of Hedge Fund Holders: 29

Boise Cascade Company (NYSE:BCC) is a major producer of engineered wood products and plywood in North America. The company also serves as a leading wholesale distributor of building materials in the US, supplying both residential and commercial construction sectors. Boise Cascade Company (NYSE:BCC) ranks among the top lumber stocks to invest in.

In the third quarter of 2024, the company reported sales of $1.7 billion and a net income of $91 million. This marks a decline from the previous year, where sales were $1.8 billion and net income was $143.1 million. The decrease in income reflects a challenging market, with total US housing starts down by 3% and single-family starts down by 1% compared to the same quarter in 2023.

Despite these challenges, Boise Cascade Company (NYSE:BCC) demonstrated resilience by adapting to a moderate demand environment. Through the first three quarters of 2024, the company paid $220.5 million in common stock dividends and paid $158.5 million for the repurchase of over 1.2 million shares of its common stock.

Additionally, on December 10, 2024, Boise Cascade Company (NYSE:BCC) announced the acquisition of the Parksite door shop in Lakeland, Florida. This addition will expand its millwork operations to 15 locations and enhance its product offerings in the Florida market. Boise Cascade Company’s (NYSE:BCC) commitment to returning capital to shareholders while investing in strategic initiatives makes it an attractive stock for investors looking at the lumber sector.