StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) in a report released on Saturday. The brokerage issued a hold rating on the stock.
Separately, TheStreet lowered AMCON Distributing from a b- rating to a c rating in a research note on Thursday, January 18th.
Read Our Latest Research Report on DIT
AMCON Distributing Stock Performance
AMCON Distributing (NYSEAMERICAN:DIT – Get Free Report) last issued its earnings results on Thursday, April 18th. The company reported $0.89 earnings per share for the quarter. AMCON Distributing had a return on equity of 8.11% and a net margin of 0.32%. The company had revenue of $601.88 million during the quarter.
AMCON Distributing Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.72 annualized dividend and a dividend yield of 0.46%. AMCON Distributing’s payout ratio is presently 5.08%.
Institutional Investors Weigh In On AMCON Distributing
A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC grew its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 20.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,240 shares of the company’s stock after acquiring an additional 1,240 shares during the quarter. AMCON Distributing comprises about 1.5% of CM Management LLC’s investment portfolio, making the stock its 22nd biggest holding. CM Management LLC owned 1.19% of AMCON Distributing worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission. 11.14% of the stock is currently 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.
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