Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Equities rose early in the quarter on the back of a broader appetite for risk, however, they eventually fell when interest rates crossed 4%. Value and growth stocks performed similarly in the market’s large- and mid-cap categories. On the other hand, value stocks proved to be more defensive in the small-cap group. The Russell Midcap Value Index fell 4.5%, with only the energy and financials sectors seeing gains. Healthcare, communication services, and consumer staples detracted. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund highlighted stocks like FMC Corporation (NYSE:FMC) in the third quarter 2023 investor letter. Headquartered in Philadelphia, Pennsylvania, FMC Corporation (NYSE:FMC) is an agricultural sciences company. On December 22, 2023, FMC Corporation (NYSE:FMC) stock closed at $62.74 per share. One-month return of FMC Corporation (NYSE:FMC) was 18.18%, and its shares lost 50.34% of their value over the last 52 weeks. FMC Corporation (NYSE:FMC) has a market capitalization of $7.827 billion.
Carillon Chartwell Mid Cap Value Fund made the following comment about FMC Corporation (NYSE:FMC) in its Q3 2023 investor letter:
“The Russell Midcap Value Index declined 4.5%, with only the energy and financials sectors generating positive returns. The healthcare, communication services, and consumer staples sectors were the weakest. FMC Corporation (NYSE:FMC) manufactures herbicides, insecticides, and other crop chemicals for use in agriculture. The company’s results were negatively impacted by customer inventory destocking.”
A laboratory technician carefully mixing chemicals in a laboratory.
FMC Corporation (NYSE:FMC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held FMC Corporation (NYSE:FMC) at the end of third quarter which was 32 in the previous quarter.
We discussed FMC Corporation (NYSE:FMC) in another article and shared the list of most profitable lithium stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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