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

AMCON Distributing Company (NYSEAMERICAN:DIT) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $76.24 and traded as low as $64.78. AMCON Distributing shares last traded at $62.19, with a volume of 287 shares traded.

AMCON Distributing Stock Performance

The firm has a market capitalization of $64.29 million, a PE ratio of 35.42 and a beta of -0.20. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.75 and a quick ratio of 1.05. The firm has a fifty day moving average price of $67.40 and a 200 day moving average price of $76.17.

AMCON Distributing (NYSEAMERICAN:DIT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.85 earnings per share for the quarter. The firm had revenue of $835.34 million for the quarter. AMCON Distributing had a return on equity of 1.58% and a net margin of 0.06%.

AMCON Distributing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 7th. AMCON Distributing’s dividend payout ratio (DPR) is 6.69%.

Institutional Investors Weigh In On AMCON Distributing

A number of large investors have recently made changes to their positions in DIT. Empowered Funds LLC boosted its stake in AMCON Distributing by 59.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $426,000 after purchasing an additional 1,782 shares during the period. Renaissance Technologies LLC raised its stake in 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 purchasing an additional 4,666 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AMCON Distributing by 49.0% in the first quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock valued at $2,842,000 after purchasing an additional 10,393 shares in the last quarter. Institutional investors and hedge funds own 11.14% of the company’s stock.

AMCON Distributing Company Profile

AMCON Distributing Company is a wholesale distributor of consumer products in the United States. The company supplies convenience stores, independent retailers, supermarkets, discount stores, drugstores, tobacco shops, and other retail businesses with a broad range of products.

Its wholesale product portfolio includes cigarettes and other tobacco products, candy, snacks, beverages, groceries, paper products, health and beauty care items, and general merchandise. AMCON serves retail customers primarily across the Midwest, Great Plains, and Southeastern United States through its distribution operations.

In addition to its wholesale business, AMCON operates natural and organic food stores through retail banners that have included Chamberlin’s Natural Foods, Akin’s Natural Foods, and Earth Origins Market.