Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund sold shares of the following stocks during the first quarter of 2021, which ended on March 31.
Adtran
The Adtran Inc. (ADTN) position was closed, impacting the portfolio by -0.29%.
The company, which provides networking and broadband infrastructure solutions, has a market cap of $833.45 million and an enterprise value of $770.16 million.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 0.64% and return on assets of 0.45% are outperforming 65% of companies in the hardware industry. Its financial strength is rated 7 out of 10 with no debt.
The largest guru shareholder of the company is Jim Simons (Trades, Portfolio)' Renaissance Technologies with 4.16% of outstanding shares, followed by Chuck Royce (Trades, Portfolio) with 2.28% and Jeremy Grantham (Trades, Portfolio) with 0.33%.
WESCO
The fund exited its position in WESCO International Inc. (WCC), impacting the portfolio by -0.11%.
The value-added industrial distributor has a market cap of $4.40 billion and an enterprise value of $9.26 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 2.49% and return on assets of 1.1% are underperforming 69% of companies in the industrial distribution industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.09 is far below the industry median of 0.62.
The largest guru shareholders of the company include Diamond Hill Capital (Trades, Portfolio) with 4.83% of outstanding shares, Robert Olstein (Trades, Portfolio) with 0.36%, Richard Snow (Trades, Portfolio) with 0.33% and Ronald Muhlenkamp (Trades, Portfolio) with 0.26%.
Astronics
The firm closed its position in Astronics Corp. (ATROB). The trade had an impact of -0.06% on the portfolio.
The company, which provides products to the aerospace and defense industries, has a market cap of $522.97 million and an enterprise value of $ 682.98 million.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -37.22% and return on assets of -16.31% are underperforming 88% of companies in the aerospace and defense industry. Its financial strength is rated 4 out of 10 with a cash-debt ratio of 0.21.
Delta Apparel
The firm curbed its Delta Apparel Inc. (DLA) stake by 7.18%. The portfolio was impacted by -0.01%.
The company, which designs, markets and manufactures apparel, has a market cap of $199.41 million and an enterprise value of $382 million.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -7.24% and return on assets of -2.49% are underperforming 73% of companies in the manufacturing, apparel and accessories industry. Its financial strength is rated 3 out of 10 with a cash-debt ratio of 0.05.
The largest guru shareholder of the company is Simons' firm with 0.96% of outstanding shares, followed by Scruggs' firm with 0.15%.
Disclosure: I do not own any stocks mentioned.
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