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

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report sent to investors on Saturday. The brokerage issued a hold rating on the stock.

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

AMCON Distributing Stock Performance

DIT opened at $156.82 on Friday. The firm has a market capitalization of $98.80 million, a P/E ratio of 11.07 and a beta of 0.50. AMCON Distributing has a 1 year low of $135.70 and a 1 year high of $249.99. The company has a quick ratio of 1.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.07.

AMCON Distributing (NYSEAMERICAN:DIT) last posted 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 announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.46%. AMCON Distributing’s dividend payout ratio (DPR) is currently 5.08%.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC raised its position in AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,240 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. AMCON Distributing accounts for about 1.5% of CM Management LLC’s holdings, making the stock its 22nd biggest holding. CM Management LLC owned about 1.19% of AMCON Distributing worth $1,491,000 at the end of the most recent reporting period. Institutional investors own 11.14% of the company’s stock.

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.