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

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

AMCON Distributing Stock Performance

AMCON Distributing stock opened at $154.00 on Friday. AMCON Distributing has a 52 week low of $119.34 and a 52 week high of $247.34. The company has a debt-to-equity ratio of 1.59, a current ratio of 3.05 and a quick ratio of 1.15. The stock has a market cap of $97.02 million, a P/E ratio of 10.88 and a beta of 0.56.

AMCON Distributing (NYSEAMERICAN:DIT) last posted its earnings results on Thursday, July 18th. The company reported $2.46 EPS 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Friday, August 2nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Friday, August 2nd. AMCON Distributing’s payout ratio is 5.08%.

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC lifted its position in AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,442 shares of the company’s stock after purchasing an additional 175 shares during the quarter. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 at the end of the most recent quarter. 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.