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

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

AMCON Distributing Trading Up 4.9 %

AMCON Distributing stock opened at $144.00 on Wednesday. AMCON Distributing has a 1-year low of $119.34 and a 1-year high of $210.53. The company has a market capitalization of $90.72 million, a P/E ratio of 10.17 and a beta of 0.51. The company has a quick ratio of 1.15, a current ratio of 3.05 and a debt-to-equity ratio of 1.59.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings data on Thursday, July 18th. The company reported $2.46 earnings per share for the quarter. AMCON Distributing had a net margin of 0.23% and a return on equity of 5.65%. The business had revenue of $717.85 million during the quarter.

AMCON Distributing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, August 2nd were given a dividend of $0.18 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.50%. AMCON Distributing’s dividend payout ratio (DPR) is currently 5.08%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC grew its position in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. 11.14% of the stock is currently owned by hedge funds and other 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.