Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Materion (MTRN - 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 MTRN and the rest of the Basic Materials group's stocks.
Materion is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #10 within 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. MTRN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MTRN's full-year earnings has moved 3.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MTRN has gained about 29.01% so far this year. At the same time, Basic Materials stocks have lost an average of 0.92%. This means that Materion is outperforming the sector as a whole this year.
Looking more specifically, MTRN belongs to the Mining - Miscellaneous industry, a group that includes 32 individual stocks and currently sits at #97 in the Zacks Industry Rank. This group has gained an average of 6.33% so far this year, so MTRN is performing better in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MTRN as it looks to continue its solid performance.