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

StockNews.com started coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note issued to investors on Wednesday. The brokerage issued a hold rating on the stock.

AMCON Distributing Stock Up 3.0 %

Shares of NYSEAMERICAN:DIT opened at $140.02 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $91.01 million, a PE ratio of 19.53 and a beta of 0.57. AMCON Distributing has a twelve month low of $118.25 and a twelve month high of $209.50.

AMCON Distributing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, November 4th. AMCON Distributing’s dividend payout ratio (DPR) is presently 10.04%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC grew its holdings in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the period. CM Management LLC owned approximately 1.30% of AMCON Distributing worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission. 11.14% of the stock is owned by institutional investors and hedge funds.

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.