Warren Goes Hunting–Inside, this time

Notching the largest block of its own stock the company has ever bought, Warren Buffett’s Berkshire Hathaway (BRKA) bought 9,200 shares for $1.2 billion from the estate of a long-time shareholder. At $131,000 per share, it’s roughly 118 percent of the book value as of the end of the third quarter, well above the 110 percent limit Buffett said he would pay in Sept. 2011, according to what CNNMoney tells MHProNews. Evidently, the opportunity to buy such a huge chunk was too much for the Oracle of Omaha to pass up, likely satisfying to the many shareholders who say the stock is undervalued, expressing their concern at annual board meetings that the company does not more aggressively pursue buying company shares. The market responded positively to the news, as shares of the stock advanced +2.42 percent today. Clayton Homes, the largest producer of manufactured homes in North America, is one of Berkshire’s subsidiaries.

(Photo credit: Yoshikazu Tsuno/AFP Getty Images–Warren Buffett)

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