Investors focused on the Basic Materials space have likely heard of Nucor (NUE Quick QuoteNUE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Nucor is one of 245 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 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).

The Zacks Consensus Estimate for NUE's full-year earnings has moved 140.88% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, NUE has moved about 50.18% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 14.10%. This shows that Nucor is outperforming its peers so far this year.

Looking more specifically, NUE belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 31.75% so far this year, so NUE is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on NUE as it attempts to continue its solid performance.