Martin Marietta Materials Set to Join the S&P 500; United States Steel Corp. Set to Join the S&P MidCap 400 and Depomed Inc. Set to Join the S&P SmallCap 600
NEW YORK, June 27, 2014 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Tuesday, July 1:
- S&P MidCap 400 constituent Martin Marietta Materials (NYSE: MLM) will replace United States Steel Corp. (NYSE: X) in the S&P 500, United States Steel replaces Martin Marietta Materials in the S&P MidCap 400 and Depomed Inc. (NASD: DEPO) replaces Texas Industries (NYSE: TXI) in the S&P SmallCap 600. Texas Industries is getting acquired by Martin Marietta Materials in a deal expected to be completed soon pending final approvals. Martin Marietta Materials has a market capitalization that is more representative of the large cap market space and United States Steel has a market capitalization that is more appropriate for the mid-cap market space.
Martin Marietta Materials, together with its subsidiaries, produces and sells aggregates for the construction industry. Headquartered in Raleigh, NC, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Construction Materials Sub-Industry index.
United States Steel is a leading integrated steel producer. Headquartered in Pittsburgh, PA, the company will be added to the S&P MidCap 400 GICS Steel Sub-Industry index.
Depomed is a specialty pharmaceutical company that commercializes products for pain and neurology related disorders. Headquartered in Newark, CA, the company will be added to the S&P SmallCap 600 GICS Pharmaceuticals Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX – July 1, 2014 |
|||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
ADDED |
Martin Marietta Materials |
Materials |
Construction Materials |
DELETED |
United States Steel |
Materials |
Steel |
S&P MIDCAP 400 INDEX – July 1, 2014 |
|||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
ADDED |
United States Steel |
Materials |
Steel |
DELETED |
Martin Marietta Materials |
Materials |
Construction Materials |
S&P SMALLCAP 600 INDEX – July 1, 2014 |
|||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
ADDED |
Depomed |
Health Care |
Pharmaceuticals |
DELETED |
Texas Industries |
Materials |
Construction Materials |
Additions to and deletions from S&P Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.
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For more information:
Dave Guarino
Communications
S&P Dow Jones Indices
[email protected]
(212) 438-1471
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
[email protected]
(212) 438-3907
SOURCE S&P Dow Jones Indices
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