The financial services entity behind the S&P 500 and Dow Jones Industrial Average indices has added ready mixed and aggregate producer U.S. Concrete to the S&P SmallCap 600, which tracks liquid, financially viable U.S. equities with market capitalization of $60 million to $4.5 billion.
Based on year-to-date closing share prices, Nasdaq-traded U.S. Concrete has seen its market capitalization in the $600-700 million range versus a $960 million median among SmallCap 600 peers. S&P Dow Jones staff lists the producer and 26 other companies under Materials—one of 10 sectors across a total of 601 SmallCap index stocks. Past index companies have included Texas Industries Inc., which was removed following a July 2014 merger with Martin Marietta Materials, which then advanced from the S&P MidCap 400 to S&P 500 index.
The SmallCap 600 listing coincides with U.S. Concrete’s naming of Joseph Tusa Jr. as senior vice president and chief financial officer, responsible for financial management, capital markets activity, and investor relations. He brings 35-plus years’ experience in building and leading finance teams; executing mergers, acquisitions and post-closing integrations; capital markets transactions; plus, expertise in corporate governance compliance and internal controls enhancement. Tusa has had CFO tours of duty with Emerge Energy Services LP, USA Compression Partners, Comsys IT Partners and DSM Copolymer, and held senior leadership positions at Metamor Worldwide, Inc. and Total American Mining, Inc.