For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Nucor (NUE Quick QuoteNUE - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Nucor is one of 252 companies in the Basic Materials group. The Basic Materials group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. NUE is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for NUE's full-year earnings has moved 30.36% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, NUE has returned 83.59% so far this year. At the same time, Basic Materials stocks have gained an average of 4.19%. This means that Nucor is outperforming the sector as a whole this year.

Breaking things down more, NUE is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 35.13% so far this year, so NUE is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on NUE as it attempts to continue its solid performance.