Tenaris announces a $1.2 billion share buyback program, beginning June 9, 2025, through a non-discretionary agreement with a bank.
Quiver AI Summary
Tenaris S.A. announced a new Share Buyback Program aimed at repurchasing up to USD 1.2 billion worth of its ordinary shares, following the resolution passed at the shareholder meeting on May 6, 2025. The company has entered into a non-discretionary buyback agreement with a financial institution, which will operate independently in executing trades. The first tranche of the buyback will involve up to USD 600 million in purchases starting June 9, 2025, and concluding by December 8, 2025. All shares acquired through this program will be canceled over time, and Tenaris commits to adhering to relevant regulations during the process. The announcement also includes forward-looking statements that reflect management's expectations and involve various risk factors related to oil and gas market conditions.
Potential Positives
- Tenaris has announced a substantial Share Buyback Program of up to USD 1.2 billion, reflecting confidence in its financial health and commitment to returning value to shareholders.
- The buyback agreement is set to be executed in compliance with applicable regulations, ensuring transparency and regulatory adherence.
- The program will continue during closed periods, indicating a proactive approach to share management and potential support for share price stability.
- Ordinary shares bought back will be cancelled, which may reduce outstanding shares and potentially boost earnings per share over time.
Potential Negatives
- The announcement of a significant share buyback program may indicate that Tenaris does not have sufficient investment opportunities for growth, which could concern investors.
- The decision to buy back shares could signal a lack of confidence in the company's current stock valuation or market conditions.
- The forward-looking statements caution about risks related to oil and gas prices, implying potential vulnerabilities in Tenaris's business model that could affect future performance.
FAQ
What is Tenaris's Share Buyback Program?
Tenaris's Share Buyback Program is an initiative to repurchase up to USD 1.2 billion of its ordinary shares.
When will the buyback program start?
The buyback program will start on June 9, 2025, and will end no later than December 8, 2025.
Who will make trading decisions for the buyback?
A primary financial institution, referred to as the Bank, will make independent trading decisions for the buyback.
How much will be spent in the first tranche?
The first tranche of the buyback program will cover up to USD 600 million, excluding customary transaction fees.
What happens to the shares purchased in the buyback?
Any ordinary shares purchased under the program will be cancelled in due course following the buyback.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TS Hedge Fund Activity
We have seen 104 institutional investors add shares of $TS stock to their portfolio, and 140 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALUA CAPITAL MANAGEMENT LP added 2,387,363 shares (+inf%) to their portfolio in Q1 2025, for an estimated $93,369,766
- CITADEL ADVISORS LLC added 1,688,609 shares (+81.3%) to their portfolio in Q1 2025, for an estimated $66,041,497
- MILLENNIUM MANAGEMENT LLC removed 1,639,469 shares (-58.2%) from their portfolio in Q1 2025, for an estimated $64,119,632
- ENCOMPASS CAPITAL ADVISORS LLC added 997,540 shares (+90.7%) to their portfolio in Q1 2025, for an estimated $39,013,789
- HOLOCENE ADVISORS, LP added 904,707 shares (+307.4%) to their portfolio in Q1 2025, for an estimated $35,383,090
- UBS GROUP AG added 787,041 shares (+263.2%) to their portfolio in Q1 2025, for an estimated $30,781,173
- MEREWETHER INVESTMENT MANAGEMENT, LP added 757,320 shares (+141.2%) to their portfolio in Q1 2025, for an estimated $29,618,785
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$TS Analyst Ratings
Wall Street analysts have issued reports on $TS in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Overweight" rating on 05/06/2025
- Exane BNP Paribas issued a "Outperform" rating on 04/22/2025
- Cowen & Co. issued a "Buy" rating on 01/08/2025
To track analyst ratings and price targets for $TS, check out Quiver Quantitative's $TS forecast page.
$TS Price Targets
Multiple analysts have issued price targets for $TS recently. We have seen 2 analysts offer price targets for $TS in the last 6 months, with a median target of $47.5.
Here are some recent targets:
- David Anderson from Barclays set a target price of $48.0 on 05/06/2025
- Jamie Franklin from Jefferies set a target price of $47.0 on 12/09/2024
Full Release
LUXEMBOURG, June 06, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its Share Buyback Program (the “Program”) announced on May 27, 2025, covering up to USD 1.2 billion, it has entered into a non-discretionary buyback agreement with a primary financial institution (the “Bank”).
The Bank will make its trading decisions concerning the timing of the purchases of Tenaris’s ordinary shares independently of and uninfluenced by Tenaris. The Program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”). Under the buyback agreement, purchases of shares may continue during any closed periods of Tenaris in accordance with the Regulations.
This first tranche of the Program will cover up to USD 600 million (excluding customary transaction fees) and will start on June 9, 2025, and end no later than December 8, 2025. Ordinary shares purchased under the Program will be cancelled in due course.
Any buyback of ordinary shares pursuant to the Program will be carried out under the authority granted by the general meeting of shareholders held on May 6, 2025.
Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
