Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT) assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DITFree Report) in a research report report published on Friday morning. The brokerage issued a hold rating on the stock.

Separately, TheStreet downgraded AMCON Distributing from a b- rating to a c rating in a research note on Thursday, January 18th.

Check Out Our Latest Research Report on DIT

AMCON Distributing Stock Up 1.5 %

NYSEAMERICAN DIT opened at $203.00 on Friday. The company has a market capitalization of $127.89 million, a P/E ratio of 12.11 and a beta of 0.51. The company has a quick ratio of 1.17, a current ratio of 3.35 and a debt-to-equity ratio of 1.41. AMCON Distributing has a 1-year low of $154.04 and a 1-year high of $249.99.

AMCON Distributing (NYSEAMERICAN:DITGet Free Report) last issued its earnings results on Thursday, January 18th. The company reported $1.78 earnings per share for the quarter. AMCON Distributing had a return on equity of 9.82% and a net margin of 0.38%. The business had revenue of $644.96 million for the quarter.

AMCON Distributing Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Friday, February 2nd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.72 annualized dividend and a yield of 0.35%. AMCON Distributing’s payout ratio is 4.30%.

Hedge Funds Weigh In On AMCON Distributing

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in AMCON Distributing by 139.6% in the third quarter. Tower Research Capital LLC TRC now owns 127 shares of the company’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. Acadian Asset Management LLC lifted its position in AMCON Distributing by 83.5% during the 1st quarter. Acadian Asset Management LLC now owns 312 shares of the company’s stock worth $48,000 after acquiring an additional 142 shares during the last quarter. Royal Bank of Canada acquired a new position in AMCON Distributing during the 2nd quarter worth $103,000. Atria Wealth Solutions Inc. acquired a new position in shares of AMCON Distributing during the second quarter valued at about $203,000. Finally, EA Series Trust acquired a new position in AMCON Distributing in the second quarter worth about $389,000. 11.97% of the stock is currently owned by hedge funds and other institutional investors.

About AMCON Distributing

(Get Free Report)

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.

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