Everus Construction To Be Added To The S&P SmallCap 600 Effective November 1, Replacing Clearwater Paper
Portfolio Pulse from Benzinga Newsdesk
Everus Construction will be added to the S&P SmallCap 600 on November 1, replacing Clearwater Paper. MDU Resources Group is spinning off Everus Construction and will remain in the index, changing its sector classification from Industrials to Utilities.
October 29, 2024 | 9:22 pm
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POSITIVE IMPACT
MDU Resources Group is spinning off Everus Construction and will remain in the S&P SmallCap 600, changing its sector classification from Industrials to Utilities.
The spin-off of Everus Construction and the sector change may attract new investors interested in the Utilities sector, potentially increasing demand for MDU shares.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Clearwater Paper will be removed from the S&P SmallCap 600 index as it no longer represents the small-cap market space.
Being removed from the S&P SmallCap 600 index may lead to a decrease in demand for CLW shares as index funds tracking the index will sell off their holdings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80