Gardner Denver (GDI) will replace Cimarex Energy (XEC) in the S&P 500

(Updated - February 27, 2020 5:18 PM EST)

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.

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