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

Posted by ABMN Staff on Nov 26th, 2024

StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) in a research report released on Saturday morning. The firm issued a hold rating on the stock.

AMCON Distributing Trading Up 2.3 %

DIT stock opened at $127.95 on Friday. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. AMCON Distributing has a 52-week low of $118.25 and a 52-week high of $209.50. The company has a market cap of $83.17 million, a PE ratio of 17.85 and a beta of 0.54.

AMCON Distributing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.56%. AMCON Distributing’s dividend payout ratio is currently 10.04%.

Institutional Trading of AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC increased its holdings in shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Empowered Funds LLC owned 0.44% of AMCON Distributing worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 11.14% of the stock is owned by institutional investors.

About AMCON Distributing

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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.