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Russell 2000 adds 34 materials, processing stocks

By Associated Press
June 30, 2008 | Comments (0)

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More than 30 companies in the materials and processing sector were added to the Russell 2000 in this year's reconstitution of the small stock index, while 21 companies in the sector were removed from the index.

Aceto Corp., AgFeed Industries Inc., Allied Nevada Gold Corp., BWAY Holding Co., Calavo Growers Inc., China BAK Battery Inc., China Precision Steel Inc., Cogdell Spencer Inc., Furmanite Corp., General Steel Holdings, Griffin Land & Nurseries Inc., HQ Sustainable Maritime Industries, Hill International Inc., ICO Inc. and Kapstone Paper & Packaging Corp. joined the Russell 2000.

Also added to the small-cap index were: Lumber Liquidators Inc., Lydall Inc., NN Inc., Omega Flex Inc., Orion Marine Group Inc., Penford Corp., Quaker Chemical Corp., Solutia Inc., Sterling Construction Co., Sutor Tech Group Ltd., Ultralife Corp., Unifi Inc., United States Lime & Minerals Inc., VSE Corp., Valence Technology Inc. and Verso Paper Corp.

Forestar Real Estate Group, Louisiana Pacific Corp. and Westlake Chemical Corp. moved down to the Russell 2000, from the Russell 1000 index of large stocks.

The following companie were removed from the Russell 2000 index: Bluelinx Holdings Inc., Building Materials Holding Corp., Chesapeake Corp., CompX International Inc., Georgia Gulf Corp., HFF Inc., Kronos Worldwide Inc., MGP Ingredients Inc., PGT Inc., Senomyx Inc., Tronox Inc. and US Gold Corp.

AECOM Technology Corp., AptarGroup Inc., CF Industries Holdings Inc., Century Aluminum Co., Greif Inc., Schnitzer Steel Industries Inc., Terra Industries Inc., Valhi Inc. and Valmont Industries Inc. were added to the Russell 1000 index of large stocks, and were removed from the Russell 2000.

Tacoma, Wash.-based Russell Investments realigns the Russell 3000 index once per year, tracking what it maintains is 99 percent of the U.S. equity market. That index is then broken down to 26 smaller indexes, including the widely watched Russell 2000 index of small capitalization stocks.

The makeup of the Russell indexes for the next 12 months was finalized after the closing bell Friday.

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