Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Carpenter Technology (CRS) 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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Carpenter Technology is a member of our Basic Materials group, which includes 232 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 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. Carpenter Technology is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CRS' full-year earnings has moved 2.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, CRS has moved about 3.1% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of -1.6%. As we can see, Carpenter Technology is performing better than its sector in the calendar year.

Another stock in the Basic Materials sector, SSR Mining (SSRM), has outperformed the sector so far this year. The stock's year-to-date return is 44.1%.

For SSR Mining, the consensus EPS estimate for the current year has increased 28.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, a group that includes 5 individual stocks and currently sits at #231 in the Zacks Industry Rank. On average, stocks in this group have lost 5.8% this year, meaning that CRS is performing better in terms of year-to-date returns.

In contrast, SSR Mining falls under the Mining - Miscellaneous industry. Currently, this industry has 58 stocks and is ranked #162. Since the beginning of the year, the industry has moved -5.9%.

Investors interested in the Basic Materials sector may want to keep a close eye on Carpenter Technology and SSR Mining as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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