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

Posted by Logan Wallace on Dec 16th, 2024

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) in a report released on Sunday. The brokerage issued a hold rating on the stock.

AMCON Distributing Price Performance

Shares of NYSEAMERICAN DIT opened at $140.02 on Friday. The stock has a market cap of $91.01 million, a price-to-earnings ratio of 19.53 and a beta of 0.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 0.91. AMCON Distributing has a 12 month low of $118.25 and a 12 month high of $209.50.

AMCON Distributing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, November 4th. AMCON Distributing’s payout ratio is 10.04%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC raised its position in AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned 1.30% of AMCON Distributing worth $1,152,000 as of its most recent SEC filing. Institutional investors and hedge funds own 11.14% of the company’s stock.

About AMCON Distributing

(Get Free Report)

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.