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

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

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

AMCON Distributing Stock Down 3.4 %

Shares of DIT opened at $157.90 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 2.50. The company has a market cap of $99.48 million, a P/E ratio of 11.15 and a beta of 0.55. AMCON Distributing has a twelve month low of $135.70 and a twelve month high of $249.99.

AMCON Distributing (NYSEAMERICAN:DIT) last issued its quarterly earnings data 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 business had revenue of $601.88 million for the quarter.

AMCON Distributing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, May 2nd. AMCON Distributing’s dividend payout ratio is presently 5.08%.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC boosted its holdings in AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,240 shares of the company’s stock after acquiring an additional 1,240 shares during the quarter. AMCON Distributing accounts for about 1.5% of CM Management LLC’s investment portfolio, making the stock its 22nd biggest position. CM Management LLC owned about 1.19% of AMCON Distributing worth $1,491,000 as of its most recent SEC filing. 11.14% of the stock is currently owned by institutional investors.

AMCON Distributing Company Profile

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.