AMCON Distributing (NYSEAMERICAN:DIT) Releases Quarterly Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) posted its earnings results on Wednesday. The company reported $2.85 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $835.34 million for the quarter. AMCON Distributing had a return on equity of 1.59% and a net margin of 0.06%.

AMCON Distributing Stock Down 1.6%

DIT stock traded down $1.12 during midday trading on Friday, hitting $67.73. The company’s stock had a trading volume of 423 shares, compared to its average volume of 3,770. The company has a quick ratio of 0.82, a current ratio of 2.17 and a debt-to-equity ratio of 1.29. AMCON Distributing has a 52-week low of $59.15 and a 52-week high of $95.59. The firm has a market capitalization of $66.38 million, a P/E ratio of 35.71 and a beta of -0.22. The firm has a 50-day simple moving average of $70.61 and a 200-day simple moving average of $77.44.

AMCON Distributing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. AMCON Distributing’s dividend payout ratio is 6.69%.

Institutional Trading of AMCON Distributing

Several hedge funds have recently modified their holdings of DIT. Dimensional Fund Advisors LP increased its holdings in AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock worth $2,842,000 after purchasing an additional 10,393 shares during the period. Renaissance Technologies LLC lifted its stake in AMCON Distributing by 50.0% in the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock worth $1,260,000 after acquiring an additional 4,666 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in AMCON Distributing by 1.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock worth $1,006,000 after acquiring an additional 136 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in AMCON Distributing by 59.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $426,000 after acquiring an additional 1,782 shares in the last quarter. 11.14% of the stock is currently owned by institutional investors and hedge funds.

AMCON Distributing Company Profile

AMCON Distributing, headquartered in Brentwood, Tennessee, operates as a wholesale distributor of tobacco, vaping products and convenience store items. The company’s core portfolio includes cigarettes, smokeless tobacco, e-liquids, snacks, beverages and general merchandise. Through its network of regional warehouses and dedicated delivery fleet, AMCON serves convenience stores, independent retailers, gas stations and small grocery outlets, offering daily restocking and inventory management solutions tailored to each customer’s needs.

Covering multiple states across the Southeastern and South Central United States, AMCON maintains distribution points in Tennessee, Georgia, Alabama, Kentucky, Mississippi and portions of Florida and Texas.