Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Small Cap Growth Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. Small-cap stocks advanced once again in the first quarter of 2021. However, there was a rather considerable disparity among the two style indexes, as the Russell 2000® Growth Index (up 4.87%) significantly lagged its Russell 2000® Value Index counterpart (up 21.16%). You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Carillon Eagle Small Cap Growth Fund, in their Q1 2021 investor letter, mentioned Summit Materials, Inc. (NYSE: SUM), and shared their insights on the company. Summit Materials, Inc. is a Denver, Colorado-based construction materials company that currently has a $3.5 billion market capitalization. Since the beginning of the year, SUM delivered a 52.34% return, extending its 12-month gains to 134.59%. As of May 04, 2021, the stock closed at $30.59 per share.
Here is what Carillon Eagle Small Cap Growth Fund has to say about Summit Materials, Inc. in their Q1 2021 investor letter:
“Summit Materials is a vertically integrated construction materials company that supplies aggregates, cement, ready-mix concrete, and asphalt in the United States and British Columbia. The firm saw shares rise in the quarter as investors continued to favor more cyclical areas of the market amid the outlook for improving economic conditions. Summit also benefited from recent migration trends that favor construction activity in the rural and exurban markets the company primarily serves, allowing it to outpace the broader private construction markets. The potential extensive infrastructure plan recently unveiled by the Biden administration also could prove to be a catalyst for future growth.”
Our calculations show that Summit Materials, Inc. (NYSE: SUM) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Summit Materials, Inc. was in 31 hedge fund portfolios. SUM delivered a 34.17% return in the past 3 months.
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