AMCON Distributing (NYSEAMERICAN:DIT) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

AMCON Distributing Company (NYSEAMERICAN:DIT)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $77.22 and traded as low as $67.00. AMCON Distributing shares last traded at $70.1050, with a volume of 224 shares trading hands.

AMCON Distributing Price Performance

The business’s 50-day moving average is $68.76 and its two-hundred day moving average is $77.18. The company has a market capitalization of $69.34 million, a P/E ratio of 37.31 and a beta of -0.22. The company has a quick ratio of 1.05, a current ratio of 2.75 and a debt-to-equity ratio of 1.46.

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

AMCON Distributing Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in AMCON Distributing by 49.0% during the first quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock worth $2,842,000 after buying an additional 10,393 shares during the period. Empowered Funds LLC grew its holdings in shares of AMCON Distributing by 59.2% during the first quarter. Empowered Funds LLC now owns 4,789 shares of the company’s stock valued at $426,000 after buying an additional 1,781 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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 valued at $1,260,000 after purchasing an additional 4,666 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in AMCON Distributing by 1.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock worth $1,006,000 after buying an additional 136 shares during the last quarter. 11.14% of the stock is currently owned by institutional investors.

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.