Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Small-cap stocks had excellent increases in the fourth quarter, following disappointing results in the third quarter. The Russell 2000 Growth Index (up 12.75%) fell behind the Russell 2000 Value Index (up 15.25%) for the second consecutive quarter. Small-cap companies performed well overall, with the Russell 2000 Growth Index (up 18.66%) outperforming the Russell 2000 Value Index (up 14.63%) for the year. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Small Cap Growth Fund featured stocks such as Summit Materials, Inc. (NYSE:SUM) in the fourth quarter 2023 investor letter. Headquartered in Denver, Colorado, Summit Materials, Inc. (NYSE:SUM) is a vertically integrated construction materials company. On February 9, 2024, Summit Materials, Inc. (NYSE:SUM) stock closed at $37.66 per share. One-month return of Summit Materials, Inc. (NYSE:SUM) was 6.63%, and its shares gained 17.54% of their value over the last 52 weeks. Summit Materials, Inc. (NYSE:SUM) has a market capitalization of $6.575 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Summit Materials, Inc. (NYSE:SUM) in its fourth quarter 2023 investor letter:
“Summit Materials, Inc. (NYSE:SUM) is a vertically integrated construction materials company supplying aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia. The company’s stock performed well due to continued strong pricing and margin trends. Investors have also had time to digest a notable acquisition that was announced in the prior quarter, analyzing the value it could create for shareholders over time. Summit is well positioned to benefit from accelerating levels of infrastructure spending, and the recent move in interest rates could provide an additional boost for its more traditional construction markets going into 2024.”
A construction worker in a hardhat, standing proud and wearing a protective mask.
Summit Materials, Inc. (NYSE:SUM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Summit Materials, Inc. (NYSE:SUM) at the end of third quarter which was 21 in the previous quarter.
We discussed Summit Materials, Inc. (NYSE:SUM) in another article and shared Merion Road Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
