Santa Ana-based Foundation Building Materials (NYSE: FBM) will join the S&P SmallCap 600 before markets open Jan. 2.
The building products supplier will replace RH (NYSE: RH), formerly Restoration Hardware. RH is moving to the S&P MidCap 400 to take a spot vacated by an owner of freight railroads being bought by Brookfield Infrastructure Partners L.P. (NYSE: BIP).
FBM was up more than 8% on the news and traded recently at a market cap of $900 million.
