What happens when a “midsize” company like Super Micro Computer (SMCI) becomes worth $62 billion? It graduates to the S&P 500 big leagues — clearing room for new midcap giants.
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Ten stocks in the S&P Midcap 400 index, including Erie Indemnity (ERIE), Celsius Holdings (CELH) and Vistra (VST), weigh in at market values of more than $16 billion each, says an Investor’s Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. That makes them the index’s new most-valuable stocks after Super Micro and Deckers Outdoor (DECK) moved to the S&P 500. The index changes start on March 18.
“The changes ensure each index is more representative of its market capitalization range,” said S&P Dow Jones Indices.
Do any of these new midsize kings have what it takes to be the next giants?
Erie Indemnity Is The New Midcap King
Following the departure of $62 billion Super Micro and $23.9 billion Deckers, Erie Indemnity is the midsize stock to beat. It’s an insurance service firm based in Erie, Pa. and valued at $21.5 billion.
Additionally, shares are up more than 22% this year. Investors like the company’s bullish outlook for profit this year. The company is seen making $10.09 a share this year, up 15% from 2023.
Big Gains, Midsize Stocks
Some of the midsize kings are coming on strong. Shares of energy drink company Celsius are up nearly 60% this year on solid growth. The company is now worth $20.1 billion.
The company’s adjusted profit is seen jumping nearly 39% this year to $1.11 a share. It continues to reap the benefits from its joint venture with PepsiCo (PEP). Another hot midcap is Texas utility Vistra. Shares are up nearly 50% this year, pushing the company’s value to $20 billion.
And that’s one of the great parts of dynamic markets. While some companies grow and graduate to the S&P 500, there are always ambitious smaller companies right behind them.
Most Valuable S&P MidCap 400 Stocks
| Company | Ticker | Market value ($ billions) | Stock YTD % ch. |
|---|---|---|---|
| Super Micro Computer | (SMCI) | $62.4 | 292.4% |
| Deckers Outdoor | (DECK) | $23.9 | 39.1% |
| Erie Indemnity | (ERIE) | $21.5 | 22.6% |
| Celsius Holdings | (CELH) | $20.1 | 58.5% |
| Vistra | (VST) | $20.0 | 49.3% |
| Reliance | (RS) | $18.5 | 15.3% |
| Westlake | (WLK) | $18.0 | 0.4% |
| Pure Storage | (PSTG) | $17.6 | 56.4% |
| Lennox International | (LII) | $17.0 | 7.0% |
| Carlisle Companies | (CSL) | $16.7 | 11.9% |
| Carlyle Group | (CG) | $16.7 | 13.0% |
| Hyatt Hotels | (H) | $16.2 | 20.6% |
Sources: S&P Global Market Intelligence, IBD
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