The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Minerals Technologies (MTX) one of those stocks right now? 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.
Minerals Technologies is a member of our Basic Materials group, which includes 248 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Minerals Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MTX's full-year earnings has moved 1.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MTX has moved about 27% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 7.1% on average. This means that Minerals Technologies is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Perimeter Solutions, SA (PRM), has outperformed the sector so far this year. The stock's year-to-date return is 18.9%.
The consensus estimate for Perimeter Solutions, SA's current year EPS has increased 21.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Minerals Technologies belongs to the Chemical - Specialty industry, a group that includes 44 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, this group has gained an average of 13.4% so far this year, meaning that MTX is performing better in terms of year-to-date returns. Perimeter Solutions, SA is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Minerals Technologies and Perimeter Solutions, SA. These stocks will be looking to continue their solid performance.
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Minerals Technologies Inc. (MTX): Free Stock Analysis Report
Perimeter Solutions, SA (PRM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).