AMCON Distributing (NYSEAMERICAN:DIT) Stock Price Breaks Below 200 Day Moving Average – Here’s Why

AMCON Distributing Company (NYSEAMERICAN:DIT) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $75.82 and traded as low as $67.56. AMCON Distributing shares last traded at $63.25, with a volume of 587 shares trading hands.

AMCON Distributing Price Performance

The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.05 and a current ratio of 2.75. The stock has a market capitalization of $61.98 million, a PE ratio of 33.35 and a beta of -0.20. The company’s fifty day simple moving average is $67.21 and its two-hundred day simple moving average is $75.82.

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

AMCON Distributing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 7th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 7th. AMCON Distributing’s payout ratio is currently 6.69%.

Institutional Trading of AMCON Distributing

Hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of AMCON Distributing by 59.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $426,000 after purchasing an additional 1,782 shares during the last quarter. Renaissance Technologies LLC lifted its position in AMCON Distributing by 50.0% during the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock worth $1,260,000 after buying an additional 4,666 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position 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. Institutional investors and hedge funds own 11.14% of the company’s stock.

AMCON Distributing Company Profile

AMCON Distributing Company is a wholesale distributor of consumer products in the United States. The company supplies convenience stores, independent retailers, supermarkets, discount stores, drugstores, tobacco shops, and other retail businesses with a broad range of products.

Its wholesale product portfolio includes cigarettes and other tobacco products, candy, snacks, beverages, groceries, paper products, health and beauty care items, and general merchandise. AMCON serves retail customers primarily across the Midwest, Great Plains, and Southeastern United States through its distribution operations.

In addition to its wholesale business, AMCON operates natural and organic food stores through retail banners that have included Chamberlin’s Natural Foods, Akin’s Natural Foods, and Earth Origins Market.