Press Releases
NEW YORK, Sept. 6, 2019 /PRNewswire/ -- S&P Dow Jones Indices will make the following index adjustments to the S&P MidCap 400 and S&P SmallCap 600 to ensure each index more appropriately represents its market capitalization range. The changes will be effective prior to the open of trading on Monday, September 23 to coincide with the September rebalance.
S&P SmallCap 600 constituents Selective Insurance Group Inc. (NASD: SIGI), Repligen Corp. (NASD:RGEN), and FirstCash Inc. (NASD:FCFS) will move to the S&P MidCap 400. S&P MidCap 400 constituents Signet Jewelers Ltd (NYSE:SIG), Range Resources Corp. (NYSE:RRC), Tupperware Brands Corp. (NYSE:TUP), The Michaels Companies Inc. (NASD:MIK), QEP Resources Inc. (NYSE:QEP), Valaris plc (NYSE:VAL) and McDermott International Inc. (NYSE:MDR) will move to the S&P SmallCap 600.
Etsy Inc. (NASD:ETSY), Pilgrim's Pride Corp. (NASD:PPC), KAR Auction Services Inc. (NYSE:KAR), Antero Midstream Corp. (NYSE:AM), Owens Corning Inc. (NYSE:OC), and Penumbra Inc. (NYSE:PEN) will join the S&P MidCap 400.
Warrior Met Coal Inc. (NYSE:HCC), Cadence Bancorporation (NYSE:CADE) and GCP Applied Technologies Inc. (NYSE:GCP) will join the S&P SmallCap 600.
Cars.com (NYSE:CARS) and Mallinckrodt plc (NYSE:MNK) will be removed from the S&P MidCap 400 as they are no longer representative of the mid-cap market space. Kirkland's Inc. (NASD:KIRK), Nautilus Group Inc. (NYSE:NLS), LSC Communications Inc. (NYSE:LKSD), Ascena Retail Group Inc. (NASD:ASNA), Superior Industries International (NYSE:SUP), Superior Energy Services Inc. (NYSE:SPN) and Kopin Corp. (NASD:KOPN) will be removed from the S&P SmallCap 600 as they are no longer representative of the small-cap market space.
Selective Insurance Group provides insurance products and services. Headquartered in Branchville, NJ, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Property & Casualty Sub-Industry index.
Repligen develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process. Headquartered in Waltham, MA, the company will be added to the S&P MidCap 400 GICS Biotechnology Sub-Industry index.
FirstCash operates retail pawn stores. Headquartered in Fort Worth, Texas , the company will be added to the S&P MidCap 400 GICS Consumer Finance Sub-Industry index.
Signet Jewelers is a retailer of diamond jewelry, watches, and other products. Headquartered in Bermuda, the company will be added to the S&P SmallCap 600 GICS Specialty Stores Sub-Industry index.
Range Resources operates as an independent natural gas, natural gas liquids (NGLs), and oil company. Headquartered in Fort Worth, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Exploration & Production Sub-Industry index.
Tupperware Brands operates as a direct-to-consumer marketer of various products. Headquartered in Orlando, Florida, the company will be added to the S&P SmallCap 600 GICS Housewares & Specialties Sub-Industry index.
The Michaels Companies owns and operates arts and crafts specialty retail stores. Headquartered in Irving, TX, the company will be added to the S&P SmallCap 600 GICS Specialty Stores Sub-Industry index.
QEP Resources operates as a crude oil and natural gas exploration and production company. Headquartered in Denver, CO, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Exploration & Production Sub-Industry index.
Valaris provides offshore drilling services. Headquartered in London, UK, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Drilling Sub-Industry index.
McDermott International provides engineering, procurement, construction and installation, and technology solutions to the energy industry. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.
Etsy is an online market place for buyers and sellers to sell goods. Headquartered in Brooklyn, NY, the company will be added to the S&P MidCap 400 GICS Internet & Direct Marketing Retail Sub-Industry index.
Pilgrim's Pride engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products. Headquartered in Greeley, CO, the company will be added to the S&P MidCap 400 GICS Packaged Foods & Meats Sub-Industry index.
KAR Auction Services provides used car auction and salvage auction services. Headquartered in Carmel, IN, the company will be added to the S&P MidCap 400 GICS Diversified Support Services Sub-Industry index.
Antero Midstream owns and operates midstream energy assets. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS Oil & Gas Storage & Transportation Sub-Industry index.
Owens Corning produces and sells glass fiber reinforcements and other materials for composites and residential, commercial, and industrial building materials. Headquartered in Toledo, OH, the company will be added to the S&P MidCap 400 GICS Building Products Sub-Industry index.
Penumbra designs, develops, manufactures, and markets medical devices. Headquartered in Alameda, CA, the company will be added to the S&P MidCap 400 GICS Health Care Equipment Sub-Industry index.
Warrior Met Coal produces and exports metallurgical coal for the steel industry. Headquartered in Brookwood, AL, the company will be added to the S&P SmallCap 600 GICS Steel Sub-Industry index.
Cadence Bancorporation provides commercial banking products and services. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.
GCP Applied Technologies produces and sells specialty construction chemicals and specialty building materials. Headquartered in Cambridge, MA, the company will be added to the S&P SmallCap 600 GICS Specialty Chemicals Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX – September 23, 2019 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | Selective Insurance Group | Financials | Property & Casualty Insurance |
Repligen | Health Care | Biotechnology | |
FirstCash | Financials | Consumer Finance | |
Etsy | Consumer Discretionary | Internet & Direct Marketing Retail | |
Pilgrim's Pride | Consumer Staples | Packaged Foods & Meats | |
KAR Auction Services | Industrials | Diversified Support Services | |
Antero Midstream | Energy | Oil & Gas Storage & Transportation | |
Owens Corning | Industrials | Building Products | |
Penumbra | Health Care | Health Care Equipment | |
DELETED | Signet Jewelers | Consumer Discretionary | Specialty Stores |
Range Resources | Energy | Oil & Gas Exploration & Production | |
Tupperware Brands | Consumer Discretionary | Housewares & Specialties | |
The Michaels Companies | Consumer Discretionary | Specialty Stores | |
QEP Resources | Energy | Oil & Gas Exploration & Production | |
Valaris | Energy | Oil & Gas Drilling | |
McDermott International | Energy | Oil & Gas Equipment & Services | |
Cars.com | Communication Services | Interactive Media & Services | |
Mallinckrodt | Health Care | Pharmaceuticals | |
S&P SMALLCAP 600 INDEX – September 23, 2019 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | Signet Jewelers | Consumer Discretionary | Specialty Stores |
Range Resources | Energy | Oil & Gas Exploration & Production | |
Tupperware Brands | Consumer Discretionary | Housewares & Specialties | |
The Michaels Companies | Consumer Discretionary | Specialty Stores | |
QEP Resources | Energy | Oil & Gas Exploration & Production | |
Valaris | Energy | Oil & Gas Drilling | |
McDermott International | Energy | Oil & Gas Equipment & Services | |
Warrior Met Coal | Materials | Steel | |
Cadence Bancorporation | Financials | Regional Banks | |
GCP Applied Technologies | Materials | Specialty Chemicals | |
DELETED | Selective Insurance Group | Financials | Property & Casualty Insurance |
Repligen | Health Care | Biotechnology | |
FirstCash | Financials | Consumer Finance | |
Kirkland's | Consumer Discretionary | Homefurnishing Retail | |
Nautilus Group | Consumer Discretionary | Leisure Products | |
LSC Communications | Industrials | Commercial Printing | |
Ascena Retail Group | Consumer Discretionary | Apparel Retail | |
Superior Industries | Consumer Discretionary | Auto Parts & Equipment | |
Superior Energy Services | Energy | Oil &Gas Equipment & Services | |
Kopin | Information Technology | Semiconductors | |
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