NEW YORK (

TheStreet

) --

Thomas & Betts Corporation

(NYSE:

TNB

) hit a new 52-week high Wednesday as it traded at $58.44 compared with its previous 52-Week high of $58.18. Thomas & Betts is changing hands at $58.38 with 2,545 shares traded as of 9:31 a.m. ET. Average volume has been 405,400 shares over the past 30 days.

Thomas & Betts has a market cap of $3 billion and is part of the

industrial goods

sector and

industrial

industry. Shares are up 19.8% 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 21.7, above the average industrial industry P/E ratio of 20.5 and above the S&P 500 P/E ratio of 16.1.

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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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