Advisor Dumps $5.1 Million Stake in FMC Amid a 69% Stock Collapse
Key Points
Oregon-based tru Independence sold 152,855 shares of FMC in the fourth quarter.
The quarter-end position value decreased by $5.14 million, reflecting the complete exit.
The position previously represented 1.3% of fund AUM last quarter; FMC is no longer among the fund’s 132 reportable holdings.
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On January 22, tru Independence reported selling out of FMC (NYSE:FMC), liquidating 152,855 shares in a transaction estimated at $5.14 million based on the last-disclosed position values.
What happened
According to its SEC filing dated January 22, tru Independence sold all 152,855 shares of FMC (NYSE:FMC), resulting in a complete position exit. The net position change for the fund was a $5.14 million decrease, reflecting both the sale and changes in FMC’s share price during the period.
What else to know
FMC previously represented 1.3% of AUM as of the prior quarter.
Top holdings following the filing:
- NYSEMKT:DFAC: $20.11 million (5.1% of AUM)
- NYSEMKT:FBND: $17.30 million (4.4% of AUM)
- NASDAQ:RDVY: $17.18 million (4.3% of AUM)
- NASDAQ:FTCS: $16.43 million (4.1% of AUM)
- NYSEMKT:DFAI: $14.83 million (3.7% of AUM)
As of January 22, FMC shares were priced at $16.02, down a steep 69.0% over the past year and vastly underperforming the S&P 500’s roughly 14% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.61 billion |
| Net income (TTM) | ($531.8 million) |
| Dividend yield | 11.4% |
| Price (as of January 22) | $16.02 |
Company snapshot
- FMC offers crop protection chemicals, including insecticides, herbicides, fungicides, biologicals, crop nutrition, and seed treatment products.
- The company generates revenue by developing, marketing, and selling agricultural inputs globally, leveraging both direct sales and partnerships with distributors and sales representatives.
- Primary customers include commercial farmers, agricultural businesses, and professional pest management companies in North America, Latin America, EMEA, and Asia.
FMC specializes in agricultural inputs, particularly crop protection and plant health solutions. The company combines a diverse product portfolio with a broad geographic reach to address the needs of modern agriculture. With a focus on research-driven innovation and strategic distribution, FMC aims to deliver value through enhanced crop yields and sustainable farming practices. Its strong market presence and commitment to product development underpin its competitive position in the agricultural sciences sector.
What this transaction means for investors
FMC has spent the past year unwinding problems rather than compounding growth, and for diversified allocators, that distinction matters. The company’s third-quarter results underscored the reset: Revenue fell 49% year over year, largely tied to the India business being held for sale, while adjusted EBITDA rose 17% to $236 million as cost controls kicked in. That combination tells a mixed story. Profitability held up, but the business shrank meaningfully.
Management has been explicit about the tradeoff. CEO Pierre Brondeau said the company is “confronting cost head on” by exiting high-cost manufacturing and resizing Asia operations after the India divestiture. The strategy prioritizes balance sheet repair over income, highlighted by the dividend cut to $0.08 per share and a full-year free cash flow outlook that still hovers around breakeven at best.
Against that backdrop, the exit looks less like panic and more like reallocation. FMC was a small position relative to larger, more diversified ETF and factor holdings, and the opportunity cost of waiting through another year of restructuring is real. The company may eventually stabilize, but this is not a steady compounder.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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