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NEW YORK ( TheStreet) -- Timken Company (NYSE: TKR) hit a new 52-week high Friday as it is currently trading at $57.26, above its previous 52-week high of $56.97 with 678,842 shares traded as of 11:25 a.m. ET. Average volume has been 913,300 shares over the past 30 days. Timken has a market cap of $5.37 billion and is part of the industrial goods sector and industrial industry. Shares are up 44.5% year to date as of the close of trading on Thursday. The Timken Company develops, manufactures, markets, and sells anti-friction bearings and assemblies, alloy steels, and mechanical power transmission systems. It operates through four segments: Mobile Industries, Process Industries, Aerospace and Defense, and Steel. The company has a P/E ratio of 10.9, below the average industrial industry P/E ratio of 12 and below the S&P 500 P/E ratio of 17.7.