AMCON Distributing (NYSEAMERICAN:DIT) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report released on Wednesday. The firm issued a hold rating on the stock.

AMCON Distributing Trading Up 4.1 %

Shares of DIT opened at $125.00 on Wednesday. The firm has a market capitalization of $78.75 million, a price-to-earnings ratio of 12.46 and a beta of 0.51. 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 1.59, a quick ratio of 1.15 and a current ratio of 3.05.

AMCON Distributing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.72 annualized dividend and a yield of 0.58%. AMCON Distributing’s dividend payout ratio is currently 7.18%.

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC grew its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 11.14% of the company’s stock.

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.