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

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the stock.

AMCON Distributing Stock Up 1.4 %

NYSEAMERICAN:DIT opened at $142.96 on Thursday. The company has a market cap of $90.06 million, a price-to-earnings ratio of 10.10 and a beta of 0.51. The company has a current ratio of 3.05, a quick ratio of 1.15 and a debt-to-equity ratio of 1.59. AMCON Distributing has a twelve month low of $119.34 and a twelve month high of $210.53.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings data on Thursday, July 18th. The company reported $2.46 EPS for the quarter. The firm 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 business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, August 2nd were issued a $0.18 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.72 annualized dividend and a yield of 0.50%. AMCON Distributing’s dividend payout ratio is presently 5.08%.

Institutional Investors Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC raised its holdings 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 firm owned 8,200 shares of the company’s stock after acquiring an additional 200 shares during the quarter. CM Management LLC owned approximately 1.30% of AMCON Distributing worth $1,152,000 as of its most recent SEC filing. 11.14% of the stock is 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.