Huntington Bancshares Holds 6.08% Stake in SCI Engineered Materials
Ticker: SCIA · Form: SC 13G · Filed: Feb 12, 2024 · CIK: 830616
| Field | Detail |
|---|---|
| Company | Sci Engineered Materials, Inc. (SCIA) |
| Form Type | SC 13G |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment
TL;DR
**Huntington Bancshares still owns 6.08% of SCI Engineered Materials, a solid vote of confidence.**
AI Summary
Huntington Bancshares Inc. /MD/ reported on February 12, 2024, that it beneficially owns 273,756 shares of SCI Engineered Materials, Inc. common stock, representing 6.08% of the company. This filing, an amendment to a previous one, indicates that Huntington Bancshares maintains a significant, but not controlling, stake in SCI Engineered Materials as of December 31, 2023. This matters to investors because it shows a large financial institution has a notable, stable investment in SCI Engineered Materials, potentially signaling confidence in the company's long-term prospects.
Why It Matters
This filing confirms a major bank's continued significant investment in SCI Engineered Materials, which can be a positive signal for other investors regarding the company's stability and potential.
Risk Assessment
Risk Level: low — This filing indicates a stable, non-controlling ownership stake by a large financial institution, which generally reduces risk for other shareholders.
Analyst Insight
An investor might view this as a sign of stability, but should also research SCI Engineered Materials' fundamentals, as this filing primarily confirms an existing, non-controlling stake rather than a new, aggressive investment.
Key Numbers
- 273,756 — Shares Beneficially Owned (Represents the total number of shares of SCI Engineered Materials, Inc. common stock owned by Huntington Bancshares Inc. /MD/.)
- 6.08% — Percent of Class (Indicates the percentage of SCI Engineered Materials, Inc.'s common stock that Huntington Bancshares Inc. /MD/ beneficially owns.)
Key Players & Entities
- Huntington Bancshares Inc. /MD/ (company) — reporting person and beneficial owner
- SCI Engineered Materials, Inc. (company) — subject company (issuer)
- 273,756 (dollar_amount) — shares beneficially owned
- 6.08% (dollar_amount) — percentage of class owned
- December 31, 2023 (date) — date of event requiring filing
Forward-Looking Statements
- Huntington Bancshares will maintain a similar ownership percentage in SCI Engineered Materials for the foreseeable future. (Huntington Bancshares Inc. /MD/) — medium confidence, target: 12/31/2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is HUNTINGTON BANCSHARES INCORPORATED, with an IRS Identification No. of 31-0966785, as stated in item 1 of the filing.
What is the name of the issuer whose securities are being reported?
The name of 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. common stock does Huntington Bancshares Inc. beneficially own?
Huntington Bancshares Inc. beneficially owns 273,756 shares of SCI Engineered Materials Inc. common stock, as reported in Row 9 of the filing.
What percentage of the class of securities does Huntington Bancshares Inc. represent with its ownership?
Huntington Bancshares Inc. represents 6.08% of the class of securities, as shown in Row 11 of the filing.
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 regarding SCI Engineered Materials, Inc. (SCIA).