DocuSign Set to Join S&P MidCap 400 and MDU Resources Group to Join S&P SmallCap 600

Rhea-AI Summary

S&P Dow Jones Indices announced index changes effective prior to the open on Oct 11, 2024. DocuSign (DOCU) will be added to the S&P MidCap 400, MDU Resources (MDU) will move from the MidCap 400 to the S&P SmallCap 600, and Chuy's Holdings (CHUY) will be deleted from the SmallCap 600.

The release notes Darden Restaurants (DRI) is acquiring Chuy's, pending final closing conditions, and MDU Resources announced an intended spin-off later this month.

Positive

• DocuSign added to S&P MidCap 400 on Oct 11, 2024
• MDU Resources added to S&P SmallCap 600 on Oct 11, 2024
• Index changes take effect prior to trading on Oct 11, 2024

Negative

• Chuy's deleted from S&P SmallCap 600 due to pending acquisition
• MDU Resources announced an intended spin-off later in October 2024

Market Context

This announcement details MDU’s transition from the S&P MidCap 400 into the S&P SmallCap 600 as part...

Analysis

This announcement details MDU’s transition from the S&P MidCap 400 into the S&P SmallCap 600 as part of a broader index reshuffle tied to corporate actions around Chuy’s and DocuSign. Against a backdrop of MDU’s pure-play regulated strategy and steady dividends highlighted in recent filings, the index move mainly affects which benchmarked and passive investors hold the stock. Investors may watch how trading volume, ownership mix, and any future use of the effective S-3ASR shelf evolve after the change.

Key Figures

Effective date: Oct 11, 2024 S&P MidCap 400: 400 S&P SmallCap 600: 600 +2 more

5 metrics

Effective date Oct 11, 2024 Index changes effective prior to market open

S&P MidCap 400 400 Index DocuSign will join; MDU will leave

S&P SmallCap 600 600 Index MDU will join as addition

S&P 500 500 Index including Darden Restaurants, acquirer of Chuy's

First index year 1884 Year Charles Dow created the first index

Historical Context

5 past events · Latest: Mar 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 23	Acquisition	Positive	+2.2%	Knife River added Donaldson Brothers assets, expanding aggregates and ready-mix footprint.
Feb 27	Acquisition	Positive	+1.2%	Knife River acquired Morgan Asphalt, extending its Mountain Region presence into Utah.
Feb 19	Dividend declaration	Neutral	-0.1%	MDU declared a $0.14 quarterly dividend, maintaining payout ratio targets.
Feb 17	Earnings release	Neutral	-2.5%	Knife River reported record Q4 revenue and EBITDA with mixed full-year net income trends.
Feb 05	Earnings & guidance	Positive	-4.1%	MDU posted higher continuing operations income and 2026 EPS guidance, but shares fell.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent MDU news often shows modest price reactions, with one notable divergence where shares fell on fundamentally positive full-year results and guidance.

Recent Company History

Over the last several months, MDU-related disclosures have focused on post-separation positioning and capital deployment. A February 10-K and later ARS and DEF 14A filings highlighted MDU’s shift to a pure-play regulated energy model, multi-year capital plans, and consistent dividends. The February 2025 year-end results and 2026 guidance update saw shares decline despite higher income from continuing operations and detailed growth targets. Today’s index reclassification arrives against this backdrop of regulated utility focus and steady but not sharply re-rated market responses.

Key Terms

s&p midcap 400, s&p smallcap 600, s&p 500, dow jones industrial average, +1 more

5 terms

s&p midcap 400 financial

"Oct 11, 2024 | S&P MidCap 400 | Addition | DocuSign | DOCU | Information Technology"

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

s&p smallcap 600 financial

"Oct 11, 2024 | S&P SmallCap 600 | Addition | MDU Resources Group | MDU | Industrials"

A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.

s&p 500 financial

"S&P 500 constituent Darden Restaurants Inc. (NYSE: DRI) is acquiring Chuy's"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

dow jones industrial average financial

"such as the S&P 500® and the Dow Jones Industrial Average®."

A stock market index that tracks the share prices of a small group of large, well-known companies to give a quick snapshot of how the broader market is doing. Think of it like a thermometer for the stock market: it uses a handful of heavyweight firms as representative samples to show whether investor sentiment is rising or falling, which helps investors gauge market trends and compare performance over time.

View in glossary

spin-off financial

"MDU Resources announced its intention to spin-off a company later this month."

A spin-off happens when a company creates a new, independent business by separating part of itself, like splitting off a division into its own company. This often happens so the new company can focus better on its own goals or attract different investors. It matters because it can lead to more growth opportunities and clearer focus for both companies.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK, Oct. 7, 2024 /PRNewswire/ -- DocuSign Inc. (NASD:DOCU) will replace MDU Resources Group Inc. (NYSE:MDU) in the S&P MidCap 400, and MDU Resources Group will replace Chuy's Holdings Inc. (NASD:CHUY) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, October 11. S&P 500 constituent Darden Restaurants Inc. (NYSE: DRI) is acquiring Chuy's Holdings in a deal expected to be completed soon, pending final closing conditions. MDU Resources announced its intention to spin-off a company later this month.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
Oct 11, 2024	S&P MidCap 400	Addition	DocuSign	DOCU	Information Technology
Oct 11, 2024	S&P MidCap 400	Deletion	MDU Resources Group	MDU	Industrials
Oct 11, 2024	S&P SmallCap 600	Addition	MDU Resources Group	MDU	Industrials
Oct 11, 2024	S&P SmallCap 600	Deletion	Chuy's Holdings	CHUY	Consumer Discretionary

For more information about S&P Dow Jones Indices, please visit www.spdji.com

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/docusign-set-to-join-sp-midcap-400-and-mdu-resources-group-to-join-sp-smallcap-600-302269292.html

SOURCE S&P Dow Jones Indices

FAQ

What index changes affect DocuSign (DOCU) on Oct 11, 2024?

DocuSign (DOCU) will be added to the S&P MidCap 400 effective Oct 11, 2024. According to S&P Dow Jones Indices, the change is scheduled prior to the open of trading and will replace MDU Resources in the MidCap 400.

Why is MDU Resources (MDU) moving to the S&P SmallCap 600 on Oct 11, 2024?

MDU Resources (MDU) will be added to the S&P SmallCap 600 effective Oct 11, 2024. According to S&P Dow Jones Indices, MDU is deleted from the MidCap 400 and inserted into the SmallCap 600 the same effective date.

What happens to Chuy's Holdings (CHUY) in the S&P SmallCap 600 on Oct 11, 2024?

Chuy's Holdings (CHUY) will be deleted from the S&P SmallCap 600 effective Oct 11, 2024. According to S&P Dow Jones Indices, the deletion follows an acquisition by Darden Restaurants that is pending final closing conditions.

Does the Darden Restaurants (DRI) acquisition affect CHUY's index membership?

Yes. Chuy's deletion from the SmallCap 600 is tied to its pending acquisition by Darden Restaurants. According to S&P Dow Jones Indices, the acquisition is expected to complete soon, subject to final closing conditions.

When do the DocuSign, MDU, and Chuy's index changes take effect?

All index changes take effect prior to the open of trading on Oct 11, 2024. According to S&P Dow Jones Indices, additions and deletions are scheduled to occur before markets open on that date.

What corporate action did MDU Resources announce ahead of its index move (MDU)?

MDU Resources announced its intention to spin off a company later in October 2024. According to S&P Dow Jones Indices, the spin-off intention was disclosed ahead of MDU's move to the SmallCap 600.