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NEW YORK ( TheStreet) -- Thomas & Betts Corporation (NYSE: TNB) hit a new 52-week high Tuesday as it is currently trading at $71.45, above its previous 52-week high of $71.36 with 1.1 million shares traded as of 10:05 a.m. ET. Average volume has been 323,900 shares over the past 30 days. Thomas & Betts has a market cap of $3.01 billion and is part of the industrial goods sector and industrial industry. Shares are up 30.6% year to date as of the close of trading on Monday. Thomas & Betts Corporation designs, manufactures, and markets electrical components for industrial, construction, and utility markets in the United States, Canada, and Europe. It operates in three segments: Electrical; Steel Structures; and Heating, Ventilation, and Air-Conditioning (HVAC). The company has a P/E ratio of 18.1, above the average industrial industry P/E ratio of 17.7 and above the S&P 500 P/E ratio of 17.7.