StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

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

AMCON Distributing Trading Down 0.7 %

Shares of DIT stock opened at $135.00 on Thursday. AMCON Distributing has a 12 month low of $119.34 and a 12 month high of $209.50. The company has a current ratio of 3.05, a quick ratio of 1.15 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $85.05 million, a price-to-earnings ratio of 13.46 and a beta of 0.51.

AMCON Distributing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.72 dividend on an annualized basis and a yield of 0.53%. AMCON Distributing’s dividend payout ratio is currently 7.18%.

Institutional Investors Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC grew its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned approximately 1.30% of AMCON Distributing worth $1,152,000 as of its most recent filing with the SEC. 11.14% of the stock is currently owned by institutional investors.

AMCON Distributing Company Profile

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.