© Reuters. Eminence Capital reduced stake in Ashland Inc
On the 16th of November, Eminence Capital sold 1.6 million Ashland Inc (NYSE:) shares for $124 million at an average price of $77.25 per share.
Shares of Ashland Inc are down -2.39% since the transaction.
Eminence Capital’s holding in Ashland Inc decreased to about 4 million shares with the transaction.
Eminence Capital first bought Ashland Inc stock in the second quarter of 2019.
Eminence Capital also owns DowDuPont Inc (DD), Corteva , Inc. (NYSE:) and Valvoline Inc . (NYSE:).
Ashland Inc is its number one position by number of shares and market value among chemicals stocks.
Other investors who also reduced their Ashland Inc shares include Diamond Hill Capital Management, Millennium Management, and the T. Rowe Price Equity Income Fund.
In contrast, Bridgewater Associates, California State Teachers Retirement System, and Causeway Capital Management added to ASH shares, while BT Investment Management established new holdings in Ashland Inc.
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