Kentwood-based X-Rite Inc. (NASDAQ: XRIT) Tuesday announced that it has been added to the Russell 2000 and Russell 3000 stock indexes as of the market close on June 26.
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appopriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
“This should provide greater stock visibility among the investment community and create new opportunities to promote our Company, its products, and future growth opportunities,” said Bradley J. Freiburger interim CFO.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Total returns data for the Russell 3000 and other Russell Indexes is available at www.russell.com/Indexes/performance/default.asp.
X-Rite is the global leader in color science and technology. The company, which now includes color industry leader Pantone Inc., develops, manufactures, markets and supports innovative color solutions through measurement systems, software, color standards and services.
More at www.xrite.com.
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