Update (4:22 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- Alcoa (AA) rose 4.25% to $11.04, up 45 cents from its previous close of $10.59, at the close of the trading day on Thursday after the company announced it would close down the two remaining potlines at its Massena East plant in Upstate New York in the first-quarter of 2014.
The stock had a volume of 39,814,823, well above its average of 25,474,200. It hit a high of $11.04 and a low of $10.58 for the day.
The Pittsburgh-based Alcoa said it would shut down the potlines, long rows of reductions pots that the company uses in its smelting work, because they are not competitive anymore. Alcoa revealed that it had closed another plant in Massena, which sits near the Canadian border, in August. The Massena East plant contains 332 employees.
Alcoa plans to work with the New York power Authority to keep its Massena West smelter, which employs 669 people, up and running.
TheStreet Ratings team rates ALCOA INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ALCOA INC (AA) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid stock performance, considering both the consistency and magnitude of the price movement over time. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."