Is The Market Missing The Forest For The Trees At Weyerhaeuser?

Residential construction is healthy and the prices of building supplies like sawlogs, timber, and OSB are very healthy… and yet, Louisiana-Pacific (LPX) and Weyerhaeuser (WY) have had lousy runs in the stock market this year and over the last twelve months. While Canadian companies like Canfor (OTCPK:CFPZF) (CFP.TO), Norbord (OSB), and West Fraser (OTCPK:WFTBF) (WFT.TO) have all enjoyed good runs, Weyerhaeuser shares have gone nowhere fast.

Lagging price realizations in OSB and still-lagging recoveries in Southern sawlogs are issues, and perhaps Weyerhaeuser is lagging because it’s not the “pure play” on some of these hot assets that other names are, but I find it interesting that the stock hasn’t responded more enthusiastically to the spiking prices in many of its end-markets.

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Is The Market Missing The Forest For The Trees At Weyerhaeuser?