AMCON Distributing (NYSEAMERICAN:DIT) Shares Pass Below 200-Day Moving Average – Here’s What Happened

AMCON Distributing Company (NYSEAMERICAN:DIT)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $77.47 and traded as low as $68.86. AMCON Distributing shares last traded at $66.6850, with a volume of 423 shares trading hands.

AMCON Distributing Stock Up 1.1%

The company has a market capitalization of $68.23 million, a PE ratio of 36.71 and a beta of -0.22. The company’s fifty day moving average is $70.38 and its 200-day moving average is $77.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.82 and a current ratio of 2.75.

AMCON Distributing (NYSEAMERICAN:DIT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.85 earnings per share for the quarter. The business had revenue of $835.34 million for the quarter. AMCON Distributing had a net margin of 0.06% and a return on equity of 1.58%.

AMCON Distributing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be paid 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 dividend yield of 0.7%. AMCON Distributing’s payout ratio is 6.69%.

Institutional Investors Weigh In On AMCON Distributing

A number of institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in AMCON Distributing by 59.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock valued at $426,000 after acquiring an additional 1,782 shares during the period. Renaissance Technologies LLC boosted its stake in shares of 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 period. Dimensional Fund Advisors LP boosted its stake in shares of AMCON Distributing by 49.0% in the first quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock worth $2,842,000 after acquiring an additional 10,393 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

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.