Tenaris completed a USD700 million share buyback, acquiring over 36 million shares, totaling 3.17% of capital.
Quiver AI Summary
Tenaris S.A. announced the completion of its USD700 million Share Buyback Program, which took place from November 11, 2024, to March 4, 2025. During this period, the company purchased 36,862,132 ordinary shares, accounting for 3.17% of its total issued share capital, with a total expenditure of approximately €668.2 million. As of the end of the program, Tenaris holds 90,762,598 shares in treasury, representing 7.81% of its issued capital, and plans to cancel shares acquired under this program in the future. The company has emphasized that some statements in the press release are forward-looking, reflecting management's expectations that could vary due to various risks, including fluctuations in oil and gas prices impacting investments.
Potential Positives
- Successful completion of a USD700 million Share Buyback Program, demonstrating strong financial management and commitment to returning value to shareholders.
- Purchase of 36,862,132 ordinary shares, representing 3.17% of the total issued share capital, indicating confidence in the company’s market position and future prospects.
- Plan to cancel treasury shares acquired, which could enhance earnings per share by reducing the number of shares outstanding.
- Tenaris's ability to successfully execute large buybacks signals robust cash flow and financial health in a competitive market.
Potential Negatives
- The completion of a significant share buyback program might raise concerns among investors regarding the company's long-term growth strategies and reinvestment in core business operations.
- Holding a large percentage of treasury shares (7.81% of total issued share capital) could indicate a lack of attractive investment opportunities for the company.
- The forward-looking statements acknowledged in the press release emphasize uncertainties related to future oil and gas prices, highlighting potential volatility in Tenaris’s operational environment.
FAQ
What is the total amount of Tenaris's Share Buyback Program?
Tenaris's Share Buyback Program amounted to USD700 million.
How many shares did Tenaris purchase during the program?
Tenaris purchased a total of 36,862,132 ordinary shares during the program.
What percentage of total issued share capital did the repurchased shares represent?
The repurchased shares represented 3.17% of the total issued share capital at the beginning of the program.
Will Tenaris cancel the shares bought back?
Yes, Tenaris intends to cancel the treasury shares purchased under the program in due course.
Where can I find more information about the Share Buyback Program?
Additional details are available on Tenaris’s corporate website under the Share Buyback Program Section.
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 111 institutional investors add shares of $TS stock to their portfolio, and 139 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ENCOMPASS CAPITAL ADVISORS LLC added 1,100,000 shares (+inf%) to their portfolio in Q4 2024, for an estimated $41,569,000
- SIR CAPITAL MANAGEMENT, L.P. removed 1,097,274 shares (-76.7%) from their portfolio in Q4 2024, for an estimated $41,465,984
- QUADRATURE CAPITAL LTD added 963,392 shares (+inf%) to their portfolio in Q4 2024, for an estimated $36,406,583
- POINT72 ASSET MANAGEMENT, L.P. removed 842,591 shares (-80.2%) from their portfolio in Q4 2024, for an estimated $31,841,513
- MILLENNIUM MANAGEMENT LLC added 778,021 shares (+38.2%) to their portfolio in Q4 2024, for an estimated $29,401,413
- FMR LLC removed 770,064 shares (-22.0%) from their portfolio in Q4 2024, for an estimated $29,100,718
- ORBIS ALLAN GRAY LTD removed 752,257 shares (-42.3%) from their portfolio in Q4 2024, for an estimated $28,427,792
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LUXEMBOURG, March 04, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of its USD700 million Share Buyback Program announced on November 10, 2024 (the “Program”).
During the Program, which ran from November 11, 2024, to (and including) March 4, 2025, the Company purchased a total of 36,862,132 ordinary shares, representing 3.17% of the total issued share capital at the beginning of the Program, for a total consideration of €668,198,121, or approx. USD700 million.
As of March 4, 2025, the Company held in treasury 90,762,598 ordinary shares (including 53,900,466 ordinary shares bought pursuant to the USD 1.2 billion Share Buyback Program), equal to 7.81% of the total issued share capital.
Tenaris intends to cancel treasury shares purchased under the Program in due course.
Details of the above transactions are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program .
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
