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 Thursday. The brokerage issued a hold rating on the stock.

AMCON Distributing Stock Up 1.4 %

Shares of DIT opened at $142.96 on Thursday. The company has a market cap of $90.06 million, a P/E ratio of 10.10 and a beta of 0.51. AMCON Distributing has a 52 week low of $119.34 and a 52 week high of $210.53. The company has a current ratio of 3.05, a quick ratio of 1.15 and a debt-to-equity ratio of 1.59.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its quarterly earnings results on Thursday, July 18th. The company reported $2.46 EPS for the quarter. The business had revenue of $717.85 million during the quarter. AMCON Distributing had a return on equity of 5.65% and a net margin of 0.23%.

AMCON Distributing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Friday, August 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.72 annualized dividend and a yield of 0.50%. AMCON Distributing’s dividend payout ratio (DPR) is presently 5.08%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC raised its position in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,200 shares of the company’s stock after buying an additional 200 shares during the period. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.