AMCON Distributing (NYSEAMERICAN:DIT) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report report published on Tuesday. The firm issued a hold rating on the stock.

AMCON Distributing Stock Performance

DIT stock opened at $150.00 on Tuesday. AMCON Distributing has a 12-month low of $129.85 and a 12-month high of $249.99. The firm has a market capitalization of $94.50 million, a P/E ratio of 10.59 and a beta of 0.56. The company has a current ratio of 2.50, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its quarterly earnings data on Thursday, April 18th. The company reported $0.89 earnings per share for the quarter. AMCON Distributing had a net margin of 0.32% and a return on equity of 8.11%. The firm had revenue of $601.88 million for the quarter.

AMCON Distributing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, May 2nd. AMCON Distributing’s payout ratio is presently 5.08%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC boosted its position in AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,442 shares of the company’s stock after purchasing an additional 175 shares during the period. Empowered Funds LLC owned about 0.39% of AMCON Distributing worth $449,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.