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

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

AMCON Distributing Stock Performance

AMCON Distributing stock opened at $146.80 on Tuesday. The company has a market cap of $92.48 million, a P/E ratio of 10.37 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 announced its earnings results on Thursday, July 18th. The company reported $2.46 earnings per share for the quarter. The company 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Friday, August 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.49%. The ex-dividend date was Friday, August 2nd. AMCON Distributing’s payout ratio is presently 5.08%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC lifted its position in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock after buying an additional 200 shares during the quarter. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 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.