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

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a report published on Friday morning. The brokerage issued a hold rating on the stock.

AMCON Distributing Stock Up 2.7 %

Shares of NYSEAMERICAN:DIT opened at $135.00 on Friday. AMCON Distributing has a 1 year low of $118.25 and a 1 year high of $209.44. The stock has a market cap of $87.75 million, a P/E ratio of 18.83 and a beta of 0.57. The company has a current ratio of 2.46, a quick ratio of 0.91 and a debt-to-equity ratio of 1.23.

AMCON Distributing Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, December 30th. AMCON Distributing’s payout ratio is 10.04%.

Institutional Trading of AMCON Distributing

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

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.