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.

TheStreet Ratings rates Thomas & Betts 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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Thomas & Betts Ratings Report.

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