For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Century Aluminum (CENX – Free Report) been one of those stocks this year? A quick glance at the company’s year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Century Aluminum is one of 200 individual stocks in the Industrial Products sector. Collectively, these companies sit at #12 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. Century Aluminum is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CENX’s full-year earnings has moved 35.9% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, CENX has gained about 10.4% so far this year. In comparison, Industrial Products companies have returned an average of -4.3%. As we can see, Century Aluminum is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Mueller Water Products (MWA – Free Report) . The stock is up 23% year-to-date.
In Mueller Water Products’ case, the consensus EPS estimate for the current year increased 5.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Century Aluminum is a member of the Metal Products – Procurement and Fabrication industry, which includes 10 individual companies and currently sits at #153 in the Zacks Industry Rank. On average, stocks in this group have lost 0.3% this year, meaning that CENX is performing better in terms of year-to-date returns.
In contrast, Mueller Water Products falls under the Steel – Pipe and Tube industry. Currently, this industry has 4 stocks and is ranked #9. Since the beginning of the year, the industry has moved +7%.
Investors with an interest in Industrial Products stocks should continue to track Century Aluminum and Mueller Water Products. These stocks will be looking to continue their solid performance.
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