James Hardie Industries to join S&P MidCap 400
Building materials firm James Hardie Industries will replace Roku in the S&P MidCap 400 index effective November 11.
James Hardie Industries is set to join the S&P MidCap 400 index, effective prior to the market opening on Wednesday, November 11. The addition follows the acquisition of Roku Inc. by Fox Corp., which necessitated the removal of the streaming media company from the index.
Inclusion in the S&P MidCap 400 is often associated with adjustments in portfolios managed by index funds, which track the performance of the constituent companies. This shift typically results in increased liquidity and institutional interest in the company's shares.
James Hardie, which produces fiber-cement building products, is listed on the New York Stock Exchange under the ticker symbol JHX.