April 25, 2017 / 3:17 PM / a year ago

BUZZ-Homebuilder shares down, Canadian lumber shares gain

** Shares in U.S. homebuilder companies fall, building material co. shares rise after PulteGroup Inc and Masco Corp reported results and U.S. announces 20 pct duty on Canadian softwood lumber

** Shares in U.S. timber companies were mixed after the lumber duty news. Weyerhaeuser shares were down 1.6 pct while Deltic Timber shares were up 2.9 pct, Louisiana-Pacific Corp shares were up 1.1 pct, Universal Forest Products stock was up 0.9 pct

** Chip Dillon, partner at Vertical Research Partners says, LPX “has zero lumber exposure. Its engineered wood products business (which includes a lumber substitute called laminated strand lumber) could see some moderate benefit over time.”

** Canadian lumber company shares rose as investors had been bracing for steeper U.S. duties. West Fraser was up 6.8 pct while Canfor Corp was up 5.8 pct on the Toronto stock exchange and Resolute Forest Products was up 0.9 pct on NYSE. Interfor Corp was up 3.6 pct in Toronto while Norbord Inc rose 2.8 pct

** Homebuilder PulteGroup shares fall 5.2 pct in heavy trading after it reported slowest growth in quarterly orders in more than a year as part of its quarterly report. PHLX Housing Index falls 0.8 pct

** Susquehanna analyst Jack Micenko says Pulte’s results, which were light on orders, were the main drag on the homebuilding group, but that the market also may be worried that the lumber duty could pressure industry gross margins

** Shares of building materials company Masco, which supplies products including cabinetry and plumbing supplies, up 3.3 after it reported earnings and revenue ahead of expectations and upped its earnings forecast for 2017

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