Key Points
Old North State sold all its 295,829 FMC shares in the first quarter, estimated at $4.42 million based on quarterly average prices.
Meanwhile, the quarter-end position value decreased by $4.10 million, reflecting both trading and share price changes.
The position previously accounted for 1.9% of AUM, marking a full liquidation of a notable holding.
On April 17, 2026, Old North State Wealth Management disclosed selling its entire FMC Corporation(NYSE:FMC) stake, an estimated $4.42 million trade based on quarterly average pricing.
What happened
According to a recent SEC filing, Old North State Wealth Management eliminated its entire stake in FMC Corporation(NYSE:FMC) by selling 295,829 shares in the first quarter. The estimated transaction value was approximately $4.42 million, based on the quarterly average share price from January through March 2026. The quarter-end value of the position dropped by $4.10 million, reflecting the combined effect of the sale and underlying price movement.
What else to know
- Top holdings after the filing:
- NYSE: LYB: $9.62 million (4.5% of AUM)
- NASDAQ: AAPL: $8.10 million (3.7% of AUM)
- NASDAQ: AMZN: $7.02 million (3.2% of AUM)
- NASDAQ: NVDA: $6.88 million (3.2% of AUM)
- NYSE: BA: $6.76 million (3.1% of AUM)
- As of April 16, 2026, FMC shares were priced at $17.58, down 50% over the past year and significantly underperforming the S&P 500’s roughly 35% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.47 billion |
| Net Income (TTM) | ($2.24 billion) |
| Price (as of market close April 16, 2026) | $17.58 |
Company snapshot
- FMC Corporation offers crop protection chemicals, including insecticides, herbicides, fungicides, biologicals, crop nutrition, and seed treatment products.
- The company generates revenue primarily through the development, marketing, and sale of agricultural inputs aimed at enhancing crop yield and quality, with distribution via a direct sales force and strategic partners.
- Main customers include growers, distributors, and professional pest and turf management providers across North America, Latin America, EMEA, and Asia.
FMC Corporation is an agricultural sciences company serving a diverse client base with a suite of crop protection and plant health solutions. FMC Corporation offers a broad product portfolio of crop protection, plant health, and professional pest and turf management products.
What this transaction means for investors
This sale appears more like a strategic exit to cut losses than just regular portfolio rebalancing, which is important for long-term investors to consider. When a fund completely divests from a position after experiencing a significant 50% drop, it often indicates diminishing confidence in a potential recovery, rather than mere portfolio adjustments.
The company's current situation sheds light on this. FMC is undergoing a challenging reset, with annual revenue dropping 18% to around $3.47 billion, resulting in a net loss of $2.24 billion, mainly due to impairments and restructuring efforts. Even moving forward, management expects another revenue decline, projecting 2026 figures to be between $3.6 billion and $3.8 billion, alongside an adjusted EBITDA decrease of up to 17%. They are also considering strategic alternatives, including a possible sale, while aiming to trim $1 billion in debt through asset disposals. Putting this in perspective regarding the portfolio, FMC was never a core holding, with an investment of about $4.4 million, especially when compared to larger stakes like LyondellBasell at $9.6 million. This type of sentiment can make the exit easier to execute.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Apple, Boeing, and Nvidia and is short shares of Apple. The Motley Fool has a disclosure policy.
