NEW YORK ( TheStreet) -- Innophos Holdings (Nasdaq: IPHS) hit a new 52-week high Wednesday as it traded at $43.43 compared with its previous 52-Week high of $43.41. Innophos is changing hands at $43.28 with 37,258 shares traded as of 10:58 a.m. ET. Average volume has been 124,300 shares over the past 30 days. Innophos has a market cap of $921.9 million and is part of the basic materials sector and chemicals industry. Shares are up 18.2% year to date as of the close of trading on Tuesday. Innophos Holdings, Inc., together with its subsidiaries, produces and sells specialty phosphates primarily in North America. The company has a P/E ratio of 14.8, below the average chemicals industry P/E ratio of 21.3 and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Innophos 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, attractive valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Innophos Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.