San Faustin S.A. reported a voting rights threshold update due to Tenaris's recent share buybacks, maintaining existing control structures.
Quiver AI Summary
Tenaris S.A. announced that its controlling shareholder, San Faustin S.A., has crossed a voting rights threshold due to the company's recent share buyback program, requiring notification under the Luxembourg Transparency Law. San Faustin disclosed that it now holds 713,605,187 shares, representing 66.82% of Tenaris’s voting rights, following share repurchases from June 9 to June 13, 2025. Additionally, San Faustin confirmed that the control structure disclosed in Tenaris's 2024 annual report remains unchanged. Tenaris is a prominent global supplier of steel tubes and related services for the energy industry and other industrial sectors.
Potential Positives
- San Faustin's ownership of 66.82% of Tenaris's voting rights reaffirms strong control over the company, potentially ensuring stability in governance and strategic direction.
- The share buyback program indicates confidence in the company's value and can lead to increased earnings per share, benefiting shareholders in the long term.
- The disclosure of share repurchases aligns with transparency regulations, reinforcing Tenaris's commitment to regulatory compliance and good corporate governance.
Potential Negatives
- San Faustin's passive crossing of a voting rights threshold may raise concerns about overly centralized control of Tenaris, potentially affecting corporate governance and shareholder influence.
- The need for San Faustin to notify Tenaris of this threshold crossing could indicate a sensitivity to shareholder scrutiny and regulatory compliance issues, which may impact investor confidence.
- The announcement's timing surrounding the share buyback program could lead to market speculation about the motivations behind these repurchases and their long-term implications for shareholder value.
FAQ
What was announced by Tenaris on June 18, 2025?
Tenaris announced that its controlling shareholder, San Faustin, crossed a voting rights threshold due to share repurchases.
What triggered the notice requirement under Luxembourg Transparency Law?
The notice requirement was triggered by San Faustin after Tenaris's share buyback program resulted in a change in voting rights.
How much of Tenaris’s voting rights does San Faustin hold?
San Faustin holds 66.82% of Tenaris’s voting rights, represented by 713,605,187 shares.
What does Tenaris do as a company?
Tenaris is a global supplier of steel tubes and related services for the energy industry and other industrial applications.
Who can be contacted for more information about Tenaris?
For more information, Giovanni Sardagna can be reached at 1-888-300-5432 or through the Tenaris website.
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.
Full Release
LUXEMBOURG, June 18, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”, or the “Company”) announced today that the Company’s controlling shareholder, San Faustin S.A. (“San Faustin”), has notified the Company that, as a result of Tenaris’s open market repurchases of own shares under its share buyback program publicly announced on May 27, 2025, San Faustin has passively crossed a voting rights threshold triggering a notice requirement under the Luxembourg Transparency Law.
On the date hereof, San Faustin informed the Company that, following repurchases of shares by Tenaris in the period from June 9 to June 13, 2025 (disclosed by Tenaris on June 13, 2025, in accordance with the EU Market Abuse Regulation), the 713,605,187 shares of the Company that San Faustin owns represent 66.82% of the Company’s voting rights. As required by the Luxembourg Transparency Law, San Faustin has further provided information on its control chain, wich confirms that the Company’s control structure disclosed on the Company’s 2024 annual report remains unchanged.
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
This article was originally published on Quiver News, read the full story.
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