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

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

AMCON Distributing Stock Down 1.9 %

DIT stock opened at $154.00 on Friday. AMCON Distributing has a one year low of $119.34 and a one year high of $247.34. The firm has a market cap of $97.02 million, a price-to-earnings ratio of 10.88 and a beta of 0.56. 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 (NYSEAMERICAN:DIT) last announced its earnings results on Thursday, July 18th. The company reported $2.46 EPS for the quarter. AMCON Distributing had a net margin of 0.23% and a return on equity of 5.65%. The business had revenue of $717.85 million during the quarter.

AMCON Distributing Announces Dividend

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC grew its holdings in AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the quarter. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 as of its most recent SEC filing. 11.14% of the stock is owned by institutional investors and hedge funds.

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.