Activist Jana Partners Boosts Ashland Stake

Jana Partners-Ashland: Ashland Inc. (NYSE:ASH), today, went up in the equity portfolio of activist hedge fund, Jana Partners, managed by Barry Rosenstein. In a 13D filing with the Securities and Exchange Commission, Jana Partners disclosed ownership of over 6.5 million shares of Ashland, purchased at an aggregate price of $518.2 million. In comparison with the latest 13F filing, Jana Partners added around 781,300 shares.

Barry Rosenstein JANA PARTNERS

In addition to Jana Partners, which currently owns 8.4% of Ashland and is the largest individual shareholder, Ken Griffin’s Citadel Investment GroupGates Capital Management, managed by Jeffrey Gates, and Mario Gabelli’s Gamco Investors are all bullish on the chemical company.

For the third quarter of its fiscal year, Ashland declared that its EPS declined on a year-over-year basis. The EPS from net income fell to $1.55, from $1.90 in the third quarter of the previous fiscal year. EPS from continuing operations declined to $1.47, from previous year’s amount of $2.00.

Looking into the Jana Partners-Ashland situation a bit deeper, it’s worth mentioning that the hedge fund made another big buy earlier this week in Safeway Inc. (NYSE:SWY), directly mentioning in the filing that it’s looking for shareholder value stimulation.

A second reason this move intrigues us is because Ashland was the primary bullish thesis of Daniel W. Lawrence of Elmrox Investment Group at this week’s Value Investing Congress. We covered Donald Yacktman‘s presentation earlier this week, and we thought it’d be useful to share Mr. Lawrence’s with you. His thoughts on Ashland are centered around the idea of “long-term shareholder value creation.” It’s evident Jana feels the same way. Take a look below:

Lawrence ValueInvestingCongress 131709 by ValueWalk.com

Recommended Reading:

Smithfield Foods-Starboard Value Situation Takes a New Turn

There’s More to Carl Icahn’s Portfolio Than Just Apple and Dell

Warren Buffett Portfolio: How He’s Playing The Small-Caps

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!