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NEW YORK ( TheStreet) -- Timken Company (NYSE: TKR) hit a new 52-week high Friday as it is currently trading at $59.60, above its previous 52-week high of $59.44 with 58,511 shares traded as of 9:56 a.m. ET. Average volume has been 714,300 shares over the past 30 days. Timken has a market cap of $5.62 billion and is part of the industrial goods sector and industrial industry. Shares are up 21.5% year to date as of the close of trading on Wednesday. The Timken Company engineers, manufactures, and markets mechanical components and high-performance steel products worldwide. It operates through four segments: Mobile Industries, Process Industries, Aerospace and Defense, and Steel.