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

Posted by Latisha Jones on Dec 1st, 2024

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

AMCON Distributing Stock Performance

NYSEAMERICAN:DIT opened at $134.07 on Friday. AMCON Distributing has a 52 week low of $118.25 and a 52 week high of $209.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.91 and a current ratio of 2.46. The firm has a market cap of $87.15 million, a price-to-earnings ratio of 18.70 and a beta of 0.54.

AMCON Distributing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, November 4th. AMCON Distributing’s payout ratio is currently 10.04%.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC boosted its holdings in AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,756 shares of the company’s stock after buying an additional 134 shares during the quarter. Empowered Funds LLC owned approximately 0.44% of AMCON Distributing worth $399,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

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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.