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NEW YORK ( TheStreet) -- Thomas & Betts Corporation (NYSE: TNB) hit a new 52-week high Wednesday as it is currently trading at $72.19, above its previous 52-week high of $72.18 with 879,554 shares traded as of 1:05 p.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 32% year to date as of the close of trading on Tuesday. Thomas & Betts Corporation engages in the design, manufacture, and marketing of components used to manage the connection, distribution, and transmission of electrical power in industrial, construction, and utility applications in North America and Europe. The company has a P/E ratio of 20, above the average industrial industry P/E ratio of 17.7 and above the S&P 500 P/E ratio of 17.7.