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

StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report released on Thursday morning. The brokerage issued a hold rating on the stock.

AMCON Distributing Price Performance

Shares of NYSEAMERICAN DIT opened at $135.00 on Thursday. AMCON Distributing has a 52-week low of $119.34 and a 52-week high of $209.50. The firm has a market cap of $85.05 million, a PE ratio of 13.46 and a beta of 0.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 3.05 and a quick ratio of 1.15.

AMCON Distributing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.72 annualized dividend and a dividend yield of 0.53%. AMCON Distributing’s dividend payout ratio is presently 7.18%.

Institutional Trading of AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC lifted its holdings in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock after acquiring an additional 200 shares during the quarter. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

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.