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

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

AMCON Distributing Trading Up 1.4 %

Shares of DIT opened at $141.00 on Friday. The stock has a market capitalization of $88.83 million, a P/E ratio of 9.96 and a beta of 0.51. 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 has a 52-week low of $119.34 and a 52-week high of $210.53.

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 return on equity of 5.65% and a net margin of 0.23%. The business had revenue of $717.85 million during the quarter.

AMCON Distributing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 2nd. AMCON Distributing’s dividend payout ratio (DPR) is currently 5.08%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC increased its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned approximately 1.30% of AMCON Distributing worth $1,152,000 at the end of the most recent reporting period. 11.14% of the stock is currently owned by institutional investors.

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.