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4-Traders Homepage  >  Equities  >  Nyse  >  Berkshire Hathaway Inc.    BRK.A

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Warren Buffett takes 3 percent stake in Germany's Lanxess

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05/29/2017 | 06:49pm CEST
A logo of Lanxess is seen next to dark clouds at Cologne Bonn airport

Lanxess (>> Lanxess AG) disclosed on Monday that Berkshire Hathaway (>> Berkshire Hathaway Inc.), the conglomerate run by billionaire Warren Buffett, had acquired a 3 percent stake in the German chemicals maker.

Lanxess (>> Lanxess AG) disclosed on Monday that Berkshire Hathaway (>> Berkshire Hathaway Inc.), the conglomerate run by billionaire Warren Buffett, had acquired a 3 percent stake in the German chemicals maker.

Lanxess shares jumped 2.9 percent to 65.06 euros by 0936 GMT after the news, even though the stock was trading without the rights to a 0.70 euro-per-share dividend for the first time.

In a regulatory filing, Lanxess said that Berkshire Hathaway's General Reinsurance subsidiary took a stake that reached just over 3 percent on May 19.

The shares held by General Re - whose total financial investments excluding cash holdings stood at about $22 billion (17.13 billion pounds) at the end of last year - were worth about 180 million euros ($200 million) at that time.

General Re's stake in Lanxess crossed the 3 percent threshold after Lanxess on May 11 beat consensus estimates for first-quarter earnings on strong sales of engineering plastics and synthetic rubber, but the company warned at the time that demand would soften later this year. Shares in Lanxess, a former unit of Bayer (>> Bayer AG) whose products include pesticide ingredients, construction pigments and leather chemicals, earlier this month reached four-year highs.

Lanxess has said that after recent acquisitions worth a combined 2.6 billion euros more strategic steps could be in the offing in the second half of the year.

(Reporting by Ludwig Burger; Editing by Maria Sheahan)

By Ludwig Burger

Stocks treated in this article : Berkshire Hathaway Inc., Bayer AG, Lanxess AG
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Financials ($)
Sales 2017 239 709 M
EBIT 2017 19 084 M
Net income 2017 18 070 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 22,62
P/E ratio 2018 20,76
Capi. / Sales 2017 1,71x
Capi. / Sales 2018 1,70x
Capitalization 408 739 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 279 375 $
Spread / Average Target 12%
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NameTitle
Warren Edward Buffett Chairman & Chief Executive Officer
Marc D. Hamburg Chief Financial Officer & Senior Vice President
Charles Thomas Munger Vice Chairman
David Sanford Gottesman Independent Director
Walter Scott Independent Director
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