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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.