Tenaris S.A. is terminating its second share buyback tranche due to market volatility, effective March 3, 2026.
Quiver AI Summary
Tenaris S.A. announced the termination of the second tranche of its Share Buyback Program, effective March 3, 2026. This tranche, part of a USD 600 million program initiated on May 27, 2025, involved the repurchase of 29,295,219 ordinary shares for around USD 583.6 million since it began on November 3, 2025. The decision to terminate was influenced by market volatility, which could lead to significant additional payouts to the financial institution managing the buyback. Following the end of a blackout period related to its annual earnings release on February 20, 2026, Tenaris exercised its right to end the buyback agreement early. The company's board will consider future buyback opportunities. Additionally, the press release contains forward-looking statements about the company’s outlook, highlighting the risks related to oil and gas prices.
Potential Positives
- Tenaris has successfully completed substantial repurchases of its shares amounting to approximately USD 583.6 million, indicating confidence in its financial stability and commitment to returning value to shareholders.
- The decision to terminate the buyback program was made to avoid a significant additional payout to a counterparty, showcasing prudent financial management amid market volatility.
- The board's consideration of future buyback programs suggests ongoing commitment to shareholder returns and the potential for strategic financial maneuvers in favorable market conditions.
Potential Negatives
- The termination of the second tranche of the Share Buyback Program may signal financial instability or uncertainty within the company, raising concerns among investors about its ability to maintain shareholder value.
- The potential for a significant incremental payout to the counterparty in the buyback agreement reflects underlying complexities and risks in the company's financial strategies, which could further alarm stakeholders.
- Market volatility cited as a reason for terminating the buyback could imply that Tenaris is facing challenges related to its operational environment, potentially affecting future performance expectations.
FAQ
What is the main announcement from Tenaris on February 23, 2026?
Tenaris announced the termination of the second tranche of its Share Buyback Program effective March 3, 2026.
Why did Tenaris decide to terminate the share buyback program?
The termination was due to market volatility, which could lead to significant additional payouts to its counterparty.
How many shares did Tenaris repurchase during this tranche?
Tenaris repurchased 29,295,219 ordinary shares at an aggregate cost of approximately USD 583.6 million.
When was the buyback program scheduled to end?
The buyback program for the second tranche was scheduled to end no later than April 30, 2026.
What will Tenaris consider in the future regarding buyback programs?
The Tenaris board of directors will evaluate when to pursue additional buyback programs in the future.
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 117 institutional investors add shares of $TS stock to their portfolio, and 137 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SOURCEROCK GROUP LLC removed 3,086,075 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $110,388,902
- ENCOMPASS CAPITAL ADVISORS LLC removed 1,432,704 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $55,087,468
- WESTWOOD GLOBAL INVESTMENTS, LLC removed 968,229 shares (-11.7%) from their portfolio in Q4 2025, for an estimated $37,228,405
- CAPSTONE INVESTMENT ADVISORS, LLC removed 921,547 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $32,963,736
- CITADEL ADVISORS LLC added 920,799 shares (+7940.0%) to their portfolio in Q4 2025, for an estimated $35,404,721
- OPTIVER HOLDING B.V. removed 905,328 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $34,809,861
- ABC ARBITRAGE SA removed 775,204 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $29,806,593
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$TS Price Targets
Multiple analysts have issued price targets for $TS recently. We have seen 4 analysts offer price targets for $TS in the last 6 months, with a median target of $49.0.
Here are some recent targets:
- Stephen Gengaro from Stifel set a target price of $57.0 on 02/23/2026
- Connor Lynagh from Morgan Stanley set a target price of $40.0 on 02/23/2026
- Marc Bianchi from TD Cowen set a target price of $59.0 on 02/20/2026
- Derek Podhaizer from Piper Sandler set a target price of $41.0 on 09/17/2025
Full Release
LUXEMBOURG, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that it has decided to terminate, effective on March 3, 2026, the second tranche of its Share Buyback Program announced on May 27, 2025 (the “Program”).
As previously disclosed, Tenaris had entered into a non-discretionary buyback agreement with a primary financial institution for the execution of this USD 600 million second tranche of the Program. This tranche began on November 3, 2025, and was scheduled to end no later than April 30, 2026. Since the commencement of this tranche, Tenaris has repurchased 29,295,219 ordinary shares at an aggregate cost of approximately USD 583.6 million, thereby substantially completing its targeted repurchases.
Tenaris has concluded that, in a context of high-volatity in the market, allowing this tranche of the Program to continue as initially scheduled may, by application of the customary mechanics in the existing buyback agreement, result in a significant incremental pay-out to its counterparty. Accordingly, following the expiration of the blackout period corresponding to its annual earnings release on February 20, 2026, Tenaris has exercised its right to terminate its existing buyback agreement on the first date it was allowed to do so under the terms of the agreement.
The Tenaris board of directors will consider when to pursue additional buyback programs in the future.
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
