Sterling Construction Company, Inc Set to Join Russell 3000® Index
June 26 2017 - 8:45AM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) is set to join the broad-market Russell 3000®
Index at the conclusion of the Russell indexes’ annual
reconstitution, effective after the US market opens on June 26th,
according to a preliminary list of additions posted June 9th.
Annual reconstitution of the Russell US indexes captures the
4,000 largest US stocks as of the end of May, ranking them by total
market capitalization. Membership in the US all-cap Russell 3000®
Index, which remains in place for one year, means automatic
inclusion in the large-cap Russell 1000® Index or small-cap
Russell 2000® Index as well as the appropriate growth and value
style indexes. FTSE Russell determines membership for its Russell
indexes by objective, market-capitalization rankings and style
attributes.
“We are extremely pleased to be added to the Russell 3000® Index
to raise Sterling Construction’s profile and visibility within the
investment community,” said Joseph Cutillo, Chief Executive
Officer. “While our turnaround efforts continue, our return to the
Russell indexes is indicative of the great progress we’ve made in
executing our strategic plan. We look forward to the opportunity to
articulate our story to a broader shareholder base.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $8.4 trillion in assets
are benchmarked against Russell’s US indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell
US Indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
Sterling is a leading heavy civil construction company that
specializes in building and reconstruction of transportation
infrastructure, water infrastructure, and residential and
commercial concrete projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii, and other states where there are
construction opportunities. Its transportation infrastructure
projects include highways, roads, bridges, airfields, ports and
light rail. Its water infrastructure projects include water,
wastewater and storm drainage systems. Its residential and
commercial concrete projects include concrete foundations for
single-family and multi-family homes, commercial projects and
parking structures.
About FTSE Russell:
FTSE Russell is a leading global index provider creating and
managing a wide range of indexes, data and analytic solutions to
meet client needs across asset classes, style and strategies.
Covering 98% of the investable market, FTSE Russell indexes offer a
true picture of global markets, combined with the specialist
knowledge gained from developing local benchmarks around the
world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $12.5
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
This press release includes certain statements that fall within
the definition of “forward-looking statements” under the Private
Securities Litigation Reform Act of 1995. Any such statements are
subject to risks and uncertainties, including overall economic and
market conditions, federal, state and local government funding,
competitors’ and customers’ actions, and weather conditions, which
could cause actual results to differ materially from those
anticipated, including those risks identified in the Company’s
filings with the Securities and Exchange Commission. Accordingly,
such statements should be considered in light of these risks. Any
prediction by the Company is only a statement of management’s
belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter to
reflect management’s belief, and the Company does not undertake to
update publicly its predictions or to make voluntary additional
disclosures of nonpublic information, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170626005089/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
281-951-3560Director of Investor RelationsorInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore, CFA,
212-836-9607Kevin Towle, 212-836-9620
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