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

StockNews.com began coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report report published on Saturday morning. The firm issued a hold rating on the stock.

AMCON Distributing Trading Up 0.0 %

NYSEAMERICAN DIT opened at $132.51 on Friday. The firm has a market cap of $83.48 million, a PE ratio of 13.21 and a beta of 0.51. AMCON Distributing has a one year low of $119.34 and a one year high of $209.50. 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 released its earnings results on Thursday, July 18th. The company reported $2.46 EPS for the quarter. The company had revenue of $717.85 million for 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 disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Friday, August 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 2nd. AMCON Distributing’s dividend payout ratio is currently 7.18%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC grew its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,442 shares of the company’s stock after buying an additional 175 shares during the period. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 at the end of the most recent reporting period. 11.14% of the stock is 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.