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

StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

Separately, TheStreet lowered shares of AMCON Distributing from a b- rating to a c rating in a report on Thursday, January 18th.

AMCON Distributing Price Performance

DIT stock opened at $175.49 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.35 and a quick ratio of 1.17. AMCON Distributing has a one year low of $160.00 and a one year high of $249.99. The company has a market capitalization of $110.56 million, a price-to-earnings ratio of 10.47 and a beta of 0.50.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings results on Thursday, January 18th. The company reported $1.78 EPS for the quarter. AMCON Distributing had a net margin of 0.38% and a return on equity of 9.82%. The business had revenue of $644.96 million during the quarter.

AMCON Distributing Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Friday, February 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.41%. AMCON Distributing’s payout ratio is 4.30%.

Institutional Investors Weigh In On AMCON Distributing

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in AMCON Distributing by 139.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 127 shares of the company’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Acadian Asset Management LLC raised its holdings in AMCON Distributing by 83.5% during the 1st quarter. Acadian Asset Management LLC now owns 312 shares of the company’s stock valued at $48,000 after buying an additional 142 shares during the last quarter. Renaissance Technologies LLC raised its holdings in AMCON Distributing by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 10,726 shares of the company’s stock valued at $1,748,000 after buying an additional 151 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in AMCON Distributing by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,255 shares of the company’s stock valued at $3,146,000 after buying an additional 153 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in AMCON Distributing by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 8,797 shares of the company’s stock valued at $1,715,000 after buying an additional 192 shares during the last quarter. 11.14% of the stock is currently owned by institutional investors.

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.