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Has Myers Industries (MYE) Outpaced Other Industrial Products Stocks This Year?

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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Myers (MYE - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.

Myers is one of 229 individual stocks in the Industrial Products sector. Collectively, these companies sit at #7 in 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Myers is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for MYE's full-year earnings has moved 1.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that MYE has returned about 7.2% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of -13.8%. This shows that Myers is outperforming its peers so far this year.

One other Industrial Products stock that has outperformed the sector so far this year is O-I Glass (OI - Free Report) . The stock is up 12.5% year-to-date.

Over the past three months, O-I Glass' consensus EPS estimate for the current year has increased 7.5%. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Myers belongs to the Rubber - Plastics industry, a group that includes 4 individual companies and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have lost about 8% so far this year, so MYE is performing better this group in terms of year-to-date returns.

On the other hand, O-I Glass belongs to the Glass Products industry. This 6-stock industry is currently ranked #24. The industry has moved -10.2% year to date.

Myers and O-I Glass could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.

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