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. KTB will replace Orion Group Holdings Inc. ORN. S&P 500 constituent V.F. Corp. 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. ARWR will replace The Navigators Group Inc. NAVG. S&P 500 constituent The Hartford Financial Services Group Inc. 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 & |
Arrowhead | Health Care | Biotechnology | |
DELETED | Orion Group | Industrials | Construction & |
The Navigators | Financials | Property & Casualty |
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
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S&P Dow Jones Indices is a division of S&P Global SPGI, which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
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
Media Inquiries
spdji_communications@spglobal.com
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SOURCE S&P Dow Jones Indices
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