AMCON Distributing (NYSEAMERICAN:DIT) Receives New Coverage from Analysts at StockNews.com

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

AMCON Distributing Stock Down 3.4 %

DIT stock opened at $140.00 on Tuesday. AMCON Distributing has a one year low of $119.34 and a one year high of $225.49. The firm has a market cap of $88.20 million, a price-to-earnings ratio of 9.89 and a beta of 0.56. The company has a debt-to-equity ratio of 1.59, a current ratio of 3.05 and a quick ratio of 1.15.

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

AMCON Distributing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Friday, August 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.72 annualized dividend and a yield of 0.51%. AMCON Distributing’s dividend payout ratio (DPR) is presently 5.08%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC boosted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the period. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 at the end of the most recent reporting period. 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.