Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Avient (AVNT) 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.

Avient is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Avient is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AVNT's full-year earnings has moved 0.8% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, AVNT has returned 5.7% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 3.4% on average. As we can see, Avient is performing better than its sector in the calendar year.

One other Basic Materials stock that has outperformed the sector so far this year is Axalta Coating Systems (AXTA). The stock is up 2.5% year-to-date.

For Axalta Coating Systems, the consensus EPS estimate for the current year has increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Avient belongs to the Chemical - Diversified industry, a group that includes 29 individual stocks and currently sits at #89 in the Zacks Industry Rank. This group has lost an average of 2.2% so far this year, so AVNT is performing better in this area.

In contrast, Axalta Coating Systems falls under the Chemical - Specialty industry. Currently, this industry has 33 stocks and is ranked #49. Since the beginning of the year, the industry has moved -21.9%.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Avient and Axalta Coating Systems as they could maintain their solid performance.

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