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NEW YORK ( TheStreet) -- Innospec (Nasdaq: IOSP) hit a new 52-week high Wednesday as it traded at $32.14 compared with its previous 52-Week high of $32.11. Innospec is changing hands at $31.98 with 140,131 shares traded as of 12:29 p.m. ET. Average volume has been 105,000 shares over the past 30 days. Innospec has a market cap of $689.7 million and is part of the basic materials sector and chemicals industry. Shares are up 43.8% year to date as of the close of trading on Tuesday. Innospec Inc. engages in the development, manufacture, blending, and marketing of fuel additives and other specialty chemicals to oil refineries, and other chemical and industrial companies worldwide. The company has a P/E ratio of 9.8, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 16.1.