Axar Capital Management buys $52.9 Million stake in Alliance One International (AOI)

Alliance One International (AOI) : Axar Capital Management scooped up 1,184,546 additional shares in Alliance One International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 2,063,986 shares of Alliance One International which is valued at $52.9 Million.Alliance One International makes up approximately 74.47% of Axar Capital Management’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in AOI by selling 300 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 25,600 shares of AOI which is valued at $656,640. Alliance One International makes up approx 0.01% of Cornerstone Capital Management Holdings.’s portfolio.Blackrock Fund Advisors reduced its stake in AOI by selling 1,572 shares or 7.05% in the most recent quarter. The Hedge Fund company now holds 20,739 shares of AOI which is valued at $531,955. Manufacturers Life Insurance Company The sold out all of its stake in AOI during the most recent quarter. The investment firm sold 2,000 shares of AOI which is valued $51,300.Municipal Employees’ Retirement System Of Michigan boosted its stake in AOI in the latest quarter, The investment management firm added 460 additional shares and now holds a total of 57,380 shares of Alliance One International which is valued at $1.5 Million. Alliance One International makes up approx 0.10% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Alliance One International closed down -0.17 points or -0.66% at $25.48 with 75,205 shares getting traded on Monday. Post opening the session at $25.04, the shares hit an intraday low of $25.04 and an intraday high of $26.52 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Alliance One International Inc. is a leaf tobacco merchant. The Company is engaged in purchasing processing packing storing and shipping tobacco to manufacturers of cigarettes and other consumer tobacco products globally. The Company deals primarily in flue-cured burley and oriental tobaccos that is used in international brand cigarettes. The Company’s revenues are primarily comprised of sales of processed tobacco and fees charged for processing and related services to these manufacturers of tobacco products. The Company does not manufacture cigarettes or other consumer tobacco products. The Company has classified its business into three segments for reporting purposes: South America segment Value Added Services segment and Other Regions segment. Value Added Services is comprised of the Company’s crushed rolled expanded stem (CRES) cut rag toasted burley and other specialty products and services.

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