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? 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 252 different companies and currently sits at #15 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 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 #1 (Strong Buy).

The Zacks Consensus Estimate for NUE's full-year earnings has moved 30.88% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, NUE has moved about 110.19% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 7.61%. This shows that Nucor is outperforming its peers so far this year.

Looking more specifically, NUE belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 39.04% this year, meaning that NUE is performing better in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track NUE. The stock will be looking to continue its solid performance.