NEW YORK, Nov. 25 /PRNewswire/ -- Standard and Poor's will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Monday, December 1:
- S&P SmallCap 600 constituent Waste Connections Inc. (NYSE: WCN) will replace Philadelphia Consolidated Holding Corp. (Nasdaq: PHLY) in the S&P MidCap 400, and S&T Bancorp Inc. (Nasdaq: STBA) will replace Waste Connections in the S&P SmallCap 600. Philadelphia Consolidated Holding is being acquired by S&P Global 1200 constituent Tokio Marine Holdings Inc. in a transaction expected to be completed on or about that date, pending final approvals.
- Mettler-Toledo International Inc. (NYSE: MTD) will replace Borders Group, Inc. (NYSE: BGP) in the S&P MidCap 400. As of today's close of trading, Borders Group had a market capitalization of approximately $101 million, whereas the minimum market capitalization needed for admission to the S&P MidCap 400 index is currently $1 billion.
- Holly Corp. (NYSE: HOC) will replace LandAmerica Financial Group Inc. (NYSE: LFG), and Tompkins Financial Corporation (NYSE Alternext: TMP) will replace Spectrum Brands, Inc. (NYSE: SPC) in the S&P SmallCap 600. As of today's close, LandAmerica Financial and Spectrum Brands' market values ranked them 599th and 600th respectively in the index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.
Waste Connections is an integrated solid waste services company. Headquartered in Folsom, CA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Environmental & Facilities Services Sub-Industry index.
S&T Bancorp is a financial services company. Headquartered in Indiana, PA, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.
Mettler-Toledo is a supplier of precision instruments and services. Headquartered in Columbus, OH, the company will be added to the S&P MidCap 400 GICS Electronic Equipment & Instruments Sub-Industry index.
Holly Corp. is an independent petroleum refiner and marketer. Headquartered in Dallas, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Refining & Marketing Sub-Industry index.
Tompkins Financial is a financial services company.