AMCON Distributing (NYSEAMERICAN:DIT) Now Covered by StockNews.com

StockNews.com began coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note released on Tuesday. The brokerage issued a hold rating on the stock.

AMCON Distributing Stock Down 5.4 %

DIT opened at $124.83 on Tuesday. AMCON Distributing has a 1 year low of $118.25 and a 1 year 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 cap of $78.64 million, a price-to-earnings ratio of 12.45 and a beta of 0.54.

AMCON Distributing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, November 4th. This represents a $0.72 annualized dividend and a dividend yield of 0.58%. AMCON Distributing’s dividend payout ratio is currently 7.18%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC increased its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,442 shares of the company’s stock after buying an additional 175 shares during the quarter. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 at the end of the most recent quarter. 11.14% of the stock is owned by institutional investors.

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.