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

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

AMCON Distributing Stock Performance

AMCON Distributing stock opened at $131.78 on Monday. AMCON Distributing has a 12-month low of $118.25 and a 12-month high of $209.50. The stock has a market cap of $85.66 million, a P/E ratio of 18.38 and a beta of 0.54. The company has a quick ratio of 1.15, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

AMCON Distributing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, November 4th. AMCON Distributing’s dividend payout ratio is presently 10.04%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC raised its position in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,756 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Empowered Funds LLC owned approximately 0.44% of AMCON Distributing worth $399,000 as of its most recent SEC filing. 11.14% of the stock is currently owned by institutional investors and hedge funds.

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.