AMCON Distributing (NYSEAMERICAN:DIT) Now Covered by StockNews.com

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

AMCON Distributing Trading Up 6.4 %

Shares of DIT stock opened at $132.85 on Tuesday. AMCON Distributing has a 12 month low of $118.25 and a 12 month high of $209.50. The company has a market capitalization of $83.70 million, a price-to-earnings ratio of 13.25 and a beta of 0.54. The company has a quick ratio of 1.15, a current ratio of 3.05 and a debt-to-equity ratio of 1.59.

AMCON Distributing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, November 4th. AMCON Distributing’s payout ratio is 7.18%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC increased its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,442 shares of the company’s stock after buying an additional 175 shares during the period. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 at the end of the most recent quarter. 11.14% of the stock is currently owned by hedge funds and other institutional investors.

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.