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

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

AMCON Distributing Price Performance

DIT stock opened at $142.96 on Thursday. The stock has a market cap of $90.06 million, a price-to-earnings ratio of 10.10 and a beta of 0.51. AMCON Distributing has a one year low of $119.34 and a one year high of $210.53. 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 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 Dividend Announcement

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

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC lifted its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,442 shares of the company’s stock after purchasing an additional 175 shares during the quarter. Empowered Funds LLC owned about 0.39% of AMCON Distributing worth $449,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.14% of the company’s stock.

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.