AMCON Distributing (NYSEAMERICAN:DIT) Issues Quarterly Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) announced its earnings results on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, reports. AMCON Distributing had a return on equity of 8.19% and a net margin of 0.32%. The firm had revenue of $601.88 million during the quarter.

AMCON Distributing Stock Down 8.8 %

NYSEAMERICAN:DIT opened at $167.28 on Friday. 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 52 week low of $162.54 and a 52 week high of $249.99. The stock has a market cap of $105.39 million, a PE ratio of 12.96 and a beta of 0.50.

AMCON Distributing Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Friday, February 2nd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, February 1st. AMCON Distributing’s dividend payout ratio (DPR) is presently 5.08%.

Analyst Upgrades and Downgrades

DIT has been the topic of a number of research analyst reports. TheStreet lowered shares of AMCON Distributing from a “b-” rating to a “c” rating in a research note on Thursday, January 18th. StockNews.com initiated coverage on shares of AMCON Distributing in a report on Monday, April 15th. They set a “hold” rating for the company.

Institutional Investors Weigh In On AMCON Distributing

A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of AMCON Distributing by 83.5% in the 1st quarter. Acadian Asset Management LLC now owns 312 shares of the company’s stock valued at $48,000 after purchasing an additional 142 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AMCON Distributing by 0.8% in the first 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 in the last quarter. Renaissance Technologies LLC grew its stake in AMCON Distributing by 1.4% during the second quarter. Renaissance Technologies LLC now owns 10,726 shares of the company’s stock worth $1,748,000 after buying an additional 151 shares during the last quarter. Royal Bank of Canada acquired a new stake in shares of AMCON Distributing during the second quarter worth approximately $103,000. Finally, CM Management LLC raised its stake in shares of AMCON Distributing by 20.7% in the third quarter. CM Management LLC now owns 7,240 shares of the company’s stock valued at $1,491,000 after acquiring an additional 1,240 shares during the last quarter. 11.14% of the stock is owned by institutional investors and hedge funds.

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.