NEW YORK, Feb. 3, 2015 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Monday, February 9:
- Vista Outdoor Inc. (NYSE: VSTOwi) will replace CARBO Ceramics Inc. (NYSE: CRR) in the S&P MidCap 400, and CARBO Ceramics will replace Alliance One International Inc. (NYSE: AOI) in the S&P SmallCap 600. S&P MidCap 400 constituent Alliant Techsystems Inc. (NYSE: ATK) is spinning off Vista Outdoors in a transaction expected to be completed on that date. Alliant Techsystems will remain in the S&P MidCap 400 following the distribution. CARBO Ceramics' market capitalization is below $800 million, making it more representative of the small cap market space. Alliance One International is ranked # 600 in the S&P SmallCap 600.
- Summit Hotel Properties Inc. (NYSE: INN) will replace Orbital Sciences Corp. (NYSE: ORB) in the S&P SmallCap 600. The post spin-off Alliant Techsystems is acquiring Orbital Science in a transaction expected to be completed on or about February 9. Post merger, the combined company will change its name to Orbital ATK Inc.
Vista Outdoor is a designer, manufacturer and marketer in the outdoor sports and recreation markets. Headquartered in Clearfield, UT, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Leisure Products Sub-Industry index.
CARBO Ceramics operates as an oilfield services technology company. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.
Summit Hotel Properties, operating as a Real Estate Investment Trust (REIT), acquires and owns hotels. Headquartered in Austin, TX, the company will be added to the S&P SmallCap 600 GICS Hotel & Resort REITs Sub-Industry index.
Following is a summary of the changes:
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S&P MIDCAP 400 INDEX – February 9, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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ADDED
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Vista Outdoor
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Consumer Discretionary
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Leisure Products
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DELETED
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CARBO Ceramics
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Energy
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Oil & Gas Equipment & Services
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S&P SMALLCAP 600 INDEX – February 9, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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ADDED
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CARBO Ceramics
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Energy
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Oil & Gas Equipment & Services
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Summit Hotel Properties
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Financials
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Hotel & Resort REITs
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DELETED
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Alliance One International
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Consumer Staples
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Tobacco
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Orbital Sciences
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Industrials
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Aerospace & Defense
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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:
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
(+1) 212 438 3907
david.blitzer@spdji.com
David R. Guarino
Communications
S&P Dow Jones Indices
(+1) 212 438 1471
dave.guarino@spdji.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vista-outdoor-set-to-join-the-sp-midcap-400-carbo-ceramics-and-summit-hotel-properties-to-join-the-sp-smallcap-600-300030428.html
SOURCE S&P Dow Jones Indices