Chicago Bridge Sees Bump After Warren Buffett Boosts Stake To 9.89%

Chicago Bridge & Iron CBI shares gained nearly four percent in pre-market action Friday, after filings showed Warren Buffett increased his holdings in the company to a 9.89 percent stake.

Buffett boosted his stake in the energy infrastructure business by about 400,000 shares to roughly 10.7 million shares. The stake is valued at $729.8 million.

Chicago Bridge is down more than 30 percent year to date.

Shortly after the market open, it was trading at $58.65, up 10.3 percent.