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Is Olin (OLN) Outperforming 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. Is Olin (OLN - 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 Basic Materials sector should help us answer this question.

Olin is one of 252 companies in the Basic Materials group. The Basic Materials group currently sits at #14 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. OLN is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for OLN's full-year earnings has moved 18.47% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that OLN has returned about 151.67% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 10.48% on a year-to-date basis. As we can see, Olin is performing better than its sector in the calendar year.

To break things down more, OLN belongs to the Chemical - Diversified industry, a group that includes 41 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 20.15% so far this year, so OLN is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to OLN as it looks to continue its solid performance.


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