Today we are going to read about the best construction materials stocks to buy right now, based on Insider Monkey’s latest article. Actually, the construction material industry includes several sectors, such as quarrying, mining, processing of raw material. It’s among the most important industries of a country, as it contributes to the economic growth of a country.
The reason why Insider Monkey recommends to invest in construction material stocks is that it’s a $1.3 trillion industry in the United States alone. According to Insider Monkey’s research, the value of its market is more than 1 trillion in dollars in 2020. The Federal Reserve decreased the short-term interest to almost zero. The 30-year mortgage rates have been decreased below the 3% level in the second quarter of 2020. Therefore it’s worth investing in the construction material industry. As we mentioned above, the industry is currently worth $1.3 trillion U.S.
After all this introduction, you must be eager to know which are the largest companies in the construction materials industry. We don’t keep you waiting, as we present you with two items from the compilation. At first, standing on the fifth spot of the list, you can find Masonite International Corporation (NYSE:DOOR). The company can boast with an amazing total value of hedge fund holdings of $496 million. Masonite International Corporation is a Tampa, Florida headquartered company that operates in exterior and interior door modules sector. It made net sales of $500 million during the second quarter of 2020, having an 11% decline due to the coronavirus pandemic. The total net income reported is US$34 million. Masonite is followed by Eagle Materials (NYSE:EXP) on the third spot with a total value of hedge goldings of $473 million. Eagle is located in Dallas, Texas and produce building materials, such as concrete, cement, gypsum, wallboard, paperboard, construction aggregates, sand for hydraulic fracturing. As of 2020, the company has a revenue of $1,451 million. If you want to get more information about these companies, please jump to the list of the best construction materials stocks to buy now.