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NEW YORK ( TheStreet) -- Innospec (Nasdaq: IOSP) hit a new 52-week high Wednesday as it is currently trading at $34.50, above its previous 52-week high of $33.68 with 15,383 shares traded as of 9:36 a.m. ET. Average volume has been 124,000 shares over the past 30 days. Innospec has a market cap of $780.8 million and is part of the basic materials sector and chemicals industry. Shares are up 63.6% 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 11.1, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 16.3.