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

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

AMCON Distributing Stock Down 0.6 %

DIT opened at $134.07 on Friday. The company has a current ratio of 2.46, a quick ratio of 0.91 and a debt-to-equity ratio of 1.23. The firm has a market cap of $87.15 million, a P/E ratio of 18.80 and a beta of 0.54. AMCON Distributing has a 52 week low of $118.25 and a 52 week high of $209.50.

AMCON Distributing Dividend Announcement

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

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC raised its position in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned 1.30% of AMCON Distributing worth $1,152,000 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

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.