NEW YORK, May 20, 2019 /PRNewswire/ -- S&P Dow Jones
Indices will make the following changes to the S&P SmallCap 600
effective prior to the open of trading on Friday, May 24:
- Kontoor Brands Inc. (NYSE: KTB) will replace Orion Group
Holdings Inc. (NYSE: ORN). S&P 500 constituent V.F. Corp.
(NYSE: VFC) is spinning off Kontoor Brands in a deal expected to be
completed on or about May 23 pending
final conditions. Orion Group is ranked at the bottom of the
S&P SmallCap 600 and has a market capitalization that is no
longer representative of the small-cap market space.
- Arrowhead Pharmaceuticals Inc. (NASD: ARWR) will replace The
Navigators Group Inc. (NASD: NAVG). S&P 500 constituent The
Hartford Financial Services Group Inc. (NYSE: HIG) is acquiring
Navigators Group in a transaction expected to be completed on or
about May 23 pending final
approvals.
Kontoor Brands designs, manufactures, sources, markets, and
distributes apparel under the Wrangler and Lee brands.
Headquartered in Greensboro, NC,
the company will be added to the S&P SmallCap 600 GICS (Global
Industry Classification Standard) Apparel, Accessories & Luxury
Goods Sub-Industry index.
Arrowhead Pharmaceuticals develops medicines for the treatment
of intractable diseases. Headquartered in Pasadena, CA, the company will be added to the
S&P SmallCap 600 GICS Biotechnology Sub-Industry index.
Following is a summary of the changes:
S&P SMALLCAP
600 INDEX – May 24, 2019
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Kontoor
Brands
|
Consumer
Discretionary
|
Apparel, Accessories
&
Luxury Goods
|
|
Arrowhead
Pharmaceuticals
|
Health
Care
|
Biotechnology
|
DELETED
|
Orion
Group
|
Industrials
|
Construction
&
Engineering
|
|
The Navigators
Group
|
Financials
|
Property &
Casualty
Insurance
|
For more information about S&P Dow Jones Indices, please
visit www.spdji.com.
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FOR MORE INFORMATION:
David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com
S&P Dow Jones Indices
index_services@spglobal.com
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SOURCE S&P Dow Jones Indices