Old North State Wealth Management has completely divested its stake in FMC Corporation, selling 295,829 shares valued at approximately $4.42 million in the first quarter of 2026. This move, disclosed in a recent SEC filing, reflects a significant shift as FMC shares have plummeted 50% over the past year, starkly contrasting with the S&P 500’s 35% gain during the same period.
The sale indicates a strategic exit aimed at mitigating losses rather than routine portfolio rebalancing. FMC is facing substantial challenges, including an 18% drop in annual revenue to around $3.47 billion and a projected decline for 2026. The company’s management is exploring strategic alternatives, including potential asset disposals to reduce $1 billion in debt, which further underscores the bleak outlook for recovery.
For market professionals, this divestiture signals a lack of confidence in FMC’s future performance and highlights the importance of monitoring fund strategies, particularly in sectors experiencing significant volatility.
Source: fool.com