West Fraser Timber VP buys the dip
Forest product stocks have been cut down this year over fears rising bond yields will destroy housing demand. West Fraser Timber Co. Ltd. WFG-T +4.19%increase is no exception, off more than 15 per cent year-to-date. When it reported first-quarter results, West Fraser noted it has experienced transportation and logistics constraints in North America. On the positive side, West Fraser expects aging housing stock to support repair and renovation demand for lumber, plywood and oriented strand board. Meanwhile, during the recent sell-off an officer bought 2,568 shares in the public market on June 17.
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