Huntington Bancshares Holds 6.08% Stake in SCI Engineered Materials
Ticker: HBANP · Form: SC 13G · Filed: Feb 12, 2024 · CIK: 49196
| Field | Detail |
|---|---|
| Company | Huntington Bancshares Inc /Md/ (HBANP) |
| Form Type | SC 13G |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G, shareholder-update
TL;DR
**Huntington Bancshares owns 6.08% of SCI Engineered Materials, a passive but significant stake.**
AI Summary
Huntington Bancshares Inc. /MD/ filed an amended SC 13G on February 12, 2024, disclosing its beneficial ownership of 273,756 shares of SCI Engineered Materials Inc. common stock as of December 31, 2023. This represents 6.08% of SCI Engineered Materials' outstanding shares. This filing indicates that Huntington Bancshares, a major financial institution, maintains a significant, though passive, investment in SCI Engineered Materials, which could be seen as a vote of confidence in the company's long-term prospects for investors considering or holding SCI Engineered Materials stock.
Why It Matters
This filing shows a large financial institution, Huntington Bancshares, has a notable stake in SCI Engineered Materials, which can signal institutional confidence to other investors.
Risk Assessment
Risk Level: low — This is a routine disclosure of a passive investment, indicating no immediate change in company control or strategy.
Analyst Insight
Investors in SCI Engineered Materials Inc. should note that a major financial institution holds a significant, but passive, stake. This could be a positive signal, but it doesn't suggest any immediate changes or activist involvement. Monitor future filings for any changes in this ownership percentage.
Key Numbers
- 273,756 — Shares Beneficially Owned (The total number of SCI Engineered Materials Inc. shares Huntington Bancshares Inc. /MD/ owns.)
- 6.08% — Percent of Class (The percentage of SCI Engineered Materials Inc. common stock owned by Huntington Bancshares Inc. /MD/.)
- 12/31/2023 — Date of Event (The date as of which the ownership stake was calculated for this filing.)
Key Players & Entities
- Huntington Bancshares Inc. /MD/ (company) — the reporting person beneficially owning shares
- SCI Engineered Materials Inc. (company) — the issuer whose shares are being reported
- 273,756 (dollar_amount) — number of shares beneficially owned
- 6.08% (dollar_amount) — percentage of class represented by ownership
- December 31, 2023 (person) — date of event requiring the filing
Forward-Looking Statements
- Huntington Bancshares will maintain its passive investment in SCI Engineered Materials Inc. for the foreseeable future. (Huntington Bancshares Inc. /MD/) — high confidence, target: 12/31/2024
- The 6.08% stake will not lead to an activist campaign or significant influence on SCI Engineered Materials' management. (SCI Engineered Materials Inc.) — high confidence, target: 12/31/2024
FAQ
What is the name of the reporting person in this SC 13G filing?
The reporting person is HUNTINGTON BANCSHARES INCORPORATED, as stated in item 1 of the filing.
What is the name of the issuer whose securities are being reported?
The issuer is SCI ENGINEERED MATERIALS INC, as identified in the 'Name of Issuer' section of the Schedule 13G.
How many shares of SCI Engineered Materials Inc. does Huntington Bancshares Inc. /MD/ beneficially own?
Huntington Bancshares Inc. /MD/ beneficially owns 273,756 shares, as reported in row 9, 'Aggregate Amount Beneficially Owned by Each Reporting Person'.
What percentage of the class of securities does Huntington Bancshares Inc. /MD/ represent with its ownership?
Huntington Bancshares Inc. /MD/ represents 6.08% of the class, as shown in row 11, 'Percent of Class Represented by Amount in Row (9)'.
What was the date of the event which required the filing of this statement?
The date of the event which required the filing of this statement was 12/31/2023, as specified in the 'Date of Event Which Requires Filing of this Statement' section.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 12, 2024 by December 31, 2023 regarding HUNTINGTON BANCSHARES INC /MD/ (HBANP).