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

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report report published on Saturday morning. The firm issued a hold rating on the stock.

AMCON Distributing Stock Performance

Shares of DIT opened at $128.63 on Friday. AMCON Distributing has a 52 week low of $118.25 and a 52 week high of $209.50. The company has a current ratio of 2.46, a quick ratio of 0.91 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $83.61 million, a PE ratio of 17.85 and a beta of 0.54.

AMCON Distributing Announces Dividend

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

Hedge Funds Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC lifted its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,756 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Empowered Funds LLC owned about 0.44% of AMCON Distributing worth $399,000 at the end of the most recent reporting period. 11.14% of the stock is owned by hedge funds and other institutional investors.

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.