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

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

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!