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

PR Newswire

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 (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. (DEPO) replaces  Texas Industries (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.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:

Dave Guarino
Communications
S&P Dow Jones Indices
dave.guarino@spdji.com
(212) 438-1471

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
david.blitzer@spdji.com 
(212) 438-3907

View Comments (0)