JANA Partners Exits Ashland Shares ~ market folly

Wednesday, May 13, 2015

JANA Partners Exits Ashland Shares

Barry Rosenstein's activist hedge fund JANA Partners has filed an amended 13D with the SEC regarding its position in Ashland (ASH).  Per the filing, JANA no longer owns a stake in the company.

The filing was made due to activity on May 11th, 2015.  JANA previously owned over 5.8 million shares of ASH. 

The 13D notes that, JANA "has disposed of its investment in the Shares of the Issuer through regular portfolio management activities. The Reporting Person is highly supportive of the steps taken by the Issuer’s board and management in recent years, including the simplification of the Issuer’s business structure with the disposal of its Water Technologies business, substantial share repurchases, improved margins, and the addition of a board member with significant industry experience."

For more from this hedge fund, head to Rosenstein's presentation at the recent Sohn conference.

Per Google Finance, "a specialty chemical company that provides products, services and solutions to industries. The Company’s segments are: Ashland Specialty Ingredients offers products, technologies and resources in key markets including personal and home care, pharmaceutical, food and beverage, coatings, construction, energy and other industries; Ashland Water Technologies is a supplier of specialty chemicals and services to the pulp, paper, mining, food and beverage, power generation, refining, chemical processing, general manufacturing and municipal markets."

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