Warren Buffett's Berkshire Hathaway Holds 30.5% of USG Following Notes Conversion

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Warren Buffett's Berkshire Hathaway is strengthening its presence in the building products sector. The company has boosted its stake in USG following the conversion of a set of senior convertible notes, it revealed in an SEC filing published today. Following the conversion, Berkshire Hathaway holds slightly less than 43.4 million shares of the company, giving it 30.5% of the outstanding amount. 

In a previous filing made before the conversion, Berkshire said it held 17.1 million shares of USG. It has had a position in the company since 2000. 

Berkshire Hathaway is the largest shareholder in USG, which manufactures sheet rock and related products used in housing construction. In its most recently reported quarter, USG posted net sales of $925 million and a net income of $23 million ($0.21 per diluted share). Both figures were improvements over the $828 million and net loss of $29 million ($0.28) in the same quarter the previous year.


The article Warren Buffett's Berkshire Hathaway Holds 30.5% of USG Following Notes Conversion originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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