AMCON Distributing (NYSEAMERICAN:DIT) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

AMCON Distributing Company (NYSEAMERICAN:DIT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.83 and traded as high as $83.26. AMCON Distributing shares last traded at $81.42, with a volume of 389 shares.

AMCON Distributing Trading Down 2.2%

The firm has a market capitalization of $79.79 million, a price-to-earnings ratio of 174.47 and a beta of -0.19. The company has a fifty day moving average price of $86.77 and a two-hundred day moving average price of $78.83. The company has a current ratio of 2.17, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29.

AMCON Distributing (NYSEAMERICAN:DIT) last issued its earnings results on Monday, April 20th. The company reported ($2.34) earnings per share for the quarter. The company had revenue of $715.65 million for the quarter. AMCON Distributing had a return on equity of 0.38% and a net margin of 0.01%.

AMCON Distributing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, May 11th. AMCON Distributing’s payout ratio is presently 6.69%.

Institutional Trading of AMCON Distributing

Several institutional investors have recently made changes to their positions in DIT. Empowered Funds LLC raised its position in shares of AMCON Distributing by 4.7% during the 4th quarter. Empowered Funds LLC now owns 3,008 shares of the company’s stock valued at $333,000 after buying an additional 136 shares during the period. Bridgeway Capital Management LLC raised its position in shares of AMCON Distributing by 1.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock valued at $1,006,000 after buying an additional 136 shares during the period. Dimensional Fund Advisors LP raised its position in shares of AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock valued at $2,842,000 after buying an additional 10,393 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of AMCON Distributing by 50.0% during the 1st quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock valued at $1,260,000 after buying an additional 4,666 shares during the period. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

AMCON Distributing, headquartered in Brentwood, Tennessee, operates as a wholesale distributor of tobacco, vaping products and convenience store items. The company’s core portfolio includes cigarettes, smokeless tobacco, e-liquids, snacks, beverages and general merchandise. Through its network of regional warehouses and dedicated delivery fleet, AMCON serves convenience stores, independent retailers, gas stations and small grocery outlets, offering daily restocking and inventory management solutions tailored to each customer’s needs.

Covering multiple states across the Southeastern and South Central United States, AMCON maintains distribution points in Tennessee, Georgia, Alabama, Kentucky, Mississippi and portions of Florida and Texas.