Investors focused on the Basic Materials space have likely heard of Nucor (NUE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Nucor is a member of our Basic Materials group, which includes 247 different companies and currently sits at #12 in 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 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. NUE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NUE's full-year earnings has moved 5.52% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NUE has moved about 0.19% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 7.55% on average. As we can see, Nucor is performing better than its sector in the calendar year.
Looking more specifically, NUE belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have lost about 6.09% so far this year, so NUE is performing better this group in terms of year-to-date returns.
NUE will likely be looking to continue its solid performance, so investors interested Basic Materials stocks should continue to pay close attention to the company.