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NEW YORK ( TheStreet) -- Cytec Industries (NYSE: CYT) hit a new 52-week high Thursday as it is currently trading at $63.63, above its previous 52-week high of $62.80 with 202,665 shares traded as of 9:40 a.m. ET. Average volume has been 646,300 shares over the past 30 days. Cytec has a market cap of $2.68 billion and is part of the basic materials sector and chemicals industry. Shares are up 28.8% year to date as of the close of trading on Wednesday. Cytec Industries Inc., a specialty chemicals and materials company, engages in developing, manufacturing, and selling chemical products primarily for aerospace composites, structural adhesives, automotive and industrial coatings, electronics, inks, mining, and plastics markets. The company has a P/E ratio of 16.8, above the average chemicals industry P/E ratio of 13.8 and below the S&P 500 P/E ratio of 17.7.