Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!