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

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

AMCON Distributing Stock Performance

AMCON Distributing stock opened at $150.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.07. AMCON Distributing has a 1 year low of $119.34 and a 1 year high of $249.99. The company has a market capitalization of $94.50 million, a P/E ratio of 10.59 and a beta of 0.56.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings data on Thursday, April 18th. The company reported $0.89 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.32% and a return on equity of 8.11%. The company had revenue of $601.88 million during the quarter.

AMCON Distributing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.72 annualized dividend and a yield of 0.48%. AMCON Distributing’s dividend payout ratio is presently 5.08%.

Institutional Trading of AMCON Distributing

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