Why This $4.4 Million Exit Looks Bearish for a Chemicals Stock Down 50%

By Jonathan Ponciano – Apr 17, 2026 at 12:27PM ESTKey PointsOld 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 (FMC 1.96%) stake, an estimated $4.42 million trade based on quarterly average pricing.What happenedAccording to a recent SEC filing, Old North State Wealth Management eliminated its entire stake in FMC Corporation (FMC 1.96%) 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 knowTop 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 overviewMetricValueRevenue (TTM)$3.47 billionNet Income (TTM)($2.24 billion)Price (as of market close April 16, 2026)$17.58Company snapshotFMC 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 investorsThis 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.Read NextApr 8, 2026 •By Billy DubersteinWhy FMC Rallied in March, Even As Markets FellApr 8, 2026 •By Lawrence Rothman, CFAIs an FMC Takeover on the Horizon? Here's What Investors Need to Know.Apr 7, 2026 •By David Jagielski, CPABetting on a Buyout for FMC Stock?

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Stock Seriously Undervalued?Mar 24, 2026 •By Lawrence Rothman, CFAIs FMC Stock Going to $15?About the AuthorJonathan Ponciano is a contributing stock market analyst at The Motley Fool. He has nearly a decade of experience as a financial journalist, most recently as an editor and senior reporter at Forbes focused on markets, technology, and entrepreneurship. Jonathan has also written for Investopedia and the Los Angeles Business Journal. He holds a dual B.A. in Business Journalism and Economics from the University of North Carolina at Chapel Hill and an M.B.A. from Columbia Business School. A North Carolina native now based in New York City, Jonathan has also lived in Mexico City and Los Angeles.CMFjonponcStocks MentionedFMCNYSE: FMC$17.24(-1.96%)-$0.35*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.