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Has Nucor (NUE) Outpaced Other Basic Materials Stocks This Year?

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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Nucor (NUE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of NUE and the rest of the Basic Materials group's stocks.

Nucor is a member of our Basic Materials group, which includes 251 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NUE is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for NUE's full-year earnings has moved 77.75% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, NUE has returned 79.17% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 19.04% on average. This means that Nucor is outperforming the sector as a whole this year.

To break things down more, NUE belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 44.31% so far this year, so NUE is performing better in this area.

NUE will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.


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