NEW YORK (

TheStreet

) --

Thomas & Betts Corporation

(NYSE:

TNB

) hit a new 52-week high Wednesday as it traded at $54.66 compared with its previous 52-Week high of $54.53. Thomas & Betts is changing hands at $54.62 with 183,445 shares traded as of 1:11 p.m. ET. Average volume has been 366,700 shares over the past 30 days. Thomas & Betts has a market cap of $2.8 billion and is part of the

industrial goods

TheStreet Recommends

sector and

industrial

industry. Shares are up 11.8% year to date as of the close of trading on Tuesday.

Thomas & Betts Corporation designs, manufactures, and markets electrical components for industrial, construction, utility, and communications markets in the United States, Canada, and Europe. The company has a P/E ratio of 19.6, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates Thomas & Betts as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full

Thomas & Betts Ratings Report

.

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