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Is Steel Dynamics (STLD) 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. Has Steel Dynamics (STLD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Steel Dynamics is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #2 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. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for STLD's full-year earnings has moved 58.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, STLD has moved about 35.3% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 5.1% on a year-to-date basis. This means that Steel Dynamics is performing better than its sector in terms of year-to-date returns.
Innospec (IOSP - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.5%.
Over the past three months, Innospec's consensus EPS estimate for the current year has increased 6.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Steel Dynamics is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #22 in the Zacks Industry Rank. On average, this group has gained an average of 19.8% so far this year, meaning that STLD is performing better in terms of year-to-date returns.
Innospec, however, belongs to the Chemical - Diversified industry. Currently, this 38-stock industry is ranked #71. The industry has moved -2.4% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Steel Dynamics and Innospec as they attempt to continue their solid performance.
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Is Steel Dynamics (STLD) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Steel Dynamics (STLD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Steel Dynamics is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #2 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. Steel Dynamics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for STLD's full-year earnings has moved 58.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, STLD has moved about 35.3% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 5.1% on a year-to-date basis. This means that Steel Dynamics is performing better than its sector in terms of year-to-date returns.
Innospec (IOSP - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.5%.
Over the past three months, Innospec's consensus EPS estimate for the current year has increased 6.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Steel Dynamics is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #22 in the Zacks Industry Rank. On average, this group has gained an average of 19.8% so far this year, meaning that STLD is performing better in terms of year-to-date returns.
Innospec, however, belongs to the Chemical - Diversified industry. Currently, this 38-stock industry is ranked #71. The industry has moved -2.4% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Steel Dynamics and Innospec as they attempt to continue their solid performance.