NEW YORK ( TheStreet) -- Lubrizol Corporation (NYSE: LZ) hit a new 52-week high Wednesday as it is currently trading at $134.77, above its previous 52-week high of $134.75 with 907,207 shares traded as of 3:16 p.m. ET. Average volume has been 1.5 million shares over the past 30 days.

Lubrizol has a market cap of $8.6 billion and is part of the basic materials sector and chemicals industry. Shares are up 25.9% year to date as of the close of trading on Tuesday.

The Lubrizol Corporation, a specialty chemical company, produces and supplies technologies that improve the performance of its customer's products in the transportation, industrial, and consumer markets worldwide. The company has a P/E ratio of 12.6, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 16.7.
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TheStreet Ratings rates Lubrizol 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, notable return on equity, 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 Lubrizol Ratings Report.

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