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Is Nucor (NUE) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research
·2-min read

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Nucor (NUE) 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 NUE and the rest of the Basic Materials group's stocks.

Nucor is a member of our Basic Materials group, which includes 252 different companies and currently sits at #14 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 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. NUE is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for NUE's full-year earnings has moved 24.36% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, NUE has moved about 94.21% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 10.23%. This means that Nucor is performing better than its sector in terms of year-to-date returns.

Breaking things down more, NUE is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 39.75% so far this year, so NUE is performing better in this area.

NUE will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.


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