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Is Martin Marietta Materials (MLM) Outperforming Other Construction Stocks This Year?
The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Martin Marietta Materials (MLM - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Martin Marietta Materials is one of 104 companies in the Construction group. The Construction group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MLM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MLM's full-year earnings has moved 11.81% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MLM has moved about 23.70% on a year-to-date basis. At the same time, Construction stocks have gained an average of 16.94%. This means that Martin Marietta Materials is outperforming the sector as a whole this year.
To break things down more, MLM belongs to the Building Products - Concrete and Aggregates industry, a group that includes 14 individual companies and currently sits at #44 in the Zacks Industry Rank. On average, stocks in this group have gained 30.89% this year, meaning that MLM is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on MLM as it attempts to continue its solid performance.