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

Posted by Lars Charter on Nov 27th, 2024

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) in a report issued on Saturday morning. The brokerage issued a hold rating on the stock.

AMCON Distributing Stock Up 0.5 %

NYSEAMERICAN:DIT opened at $128.63 on Friday. AMCON Distributing has a one year low of $118.25 and a one year high of $209.50. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $83.61 million, a P/E ratio of 17.85 and a beta of 0.54.

AMCON Distributing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were paid 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 0.56%. AMCON Distributing’s dividend payout ratio (DPR) is 10.04%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC raised its position in shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission. 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.