NEW YORK, Feb. 27, 2020 /PRNewswire/ -- Gardner Denver
Holdings Inc. (NYSE:GDI) will replace Cimarex Energy Co. (NYSE
:XEC) in the S&P 500, and Cimarex Energy will replace
Chesapeake Energy Corp. (NYSE:CHK) in the S&P MidCap 400
effective prior to the open of trading on Tuesday, March 3. S&P 500 constituent
Ingersoll-Rand plc (NYSE:IR) is spinning off its industrial segment
business which will be merged with Gardner Denver Holdings.
Post-spin-off, the "old" Ingersoll-Rand will change its name
and ticker to Trane Technologies plc (NYSE:TT), and Trane will
remain in the S&P 500 with a Global Industry Classification
Standard (GICS) change to Building Products Sub-Industry
classification. Immediately following its merger with the
industrial segment business, Gardner Denver will have a name and
ticker change to "new" Ingersoll Rand Inc. (NYSE:IR). Cimarex
Energy has a market capitalization more representative of the
mid-cap market space. Chesapeake Energy is ranked near the bottom
of the S&P MidCap 400 and is no longer representative of the
mid-cap market space.
Gardner Denver provides
mission-critical flow control and compression equipment and
associated aftermarket parts, consumables, and services.
Headquartered in Milwaukee, WI,
the company will be added to the S&P 500 GICS Industrial
Machinery Sub-Industry index.
Cimarex Energy operates as an independent oil and gas
exploration and production company. Headquartered in Denver, CO, the company will be added to the
S&P MidCap 400 GICS Oil & Gas Exploration & Production
Sub-Industry index.
Following is a summary of the changes:
|
S&P 500 INDEX
– March 3, 2020
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
|
ADDED
|
Gardner
Denver
|
Industrials
|
Industrial
Machinery
|
|
DELETED
|
Cimarex
Energy
|
Energy
|
Oil & Gas
Exploration &
Production
|
|
S&P MIDCAP 400
INDEX – March 3, 2020
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
|
ADDED
|
Cimarex
Energy
|
Energy
|
Oil & Gas
Exploration &
Production
|
|
DELETED
|
Chesapeake
Energy
|
Energy
|
Oil & Gas
Exploration &
Production
|
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