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

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

AMCON Distributing Stock Performance

NYSEAMERICAN DIT opened at $131.78 on Monday. The company has a quick ratio of 1.15, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $85.66 million, a price-to-earnings ratio of 18.38 and a beta of 0.54. AMCON Distributing has a 12-month low of $118.25 and a 12-month high of $209.50.

AMCON Distributing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend 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 currently 10.04%.

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC grew its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,756 shares of the company’s stock after purchasing an additional 134 shares during the period. Empowered Funds LLC owned about 0.44% of AMCON Distributing worth $399,000 as of its most recent SEC filing. 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.