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NEW YORK ( TheStreet) -- Cabot Corporation (NYSE: CBT) hit a new 52-week high Wednesday as it is currently trading at $44.54, above its previous 52-week high of $44.51 with 408,705 shares traded as of 12:29 p.m. ET. Average volume has been 331,600 shares over the past 30 days. Cabot has a market cap of $2.72 billion and is part of the basic materials sector and chemicals industry. Shares are up 33.7% year to date as of the close of trading on Tuesday. Cabot Corporation operates as a specialty chemicals and performance materials company. The company has a P/E ratio of 17.7, above the average chemicals industry P/E ratio of 13.7 and equal to the S&P 500 P/E ratio of 17.7.