AMCON Distributing (NYSEAMERICAN:DIT) Releases Quarterly Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) posted its earnings results on Wednesday. The company reported $2.85 earnings per share (EPS) for the quarter, FiscalAI reports. AMCON Distributing had a return on equity of 0.38% and a net margin of 0.01%.The business had revenue of $835.34 million during the quarter.

AMCON Distributing Stock Down 7.9%

DIT stock traded down $5.45 during trading hours on Thursday, reaching $63.41. 423 shares of the stock were exchanged, compared to its average volume of 3,788. The company has a market cap of $62.15 million, a price-to-earnings ratio of 135.89 and a beta of -0.22. The firm’s 50-day moving average is $70.83 and its 200-day moving average is $77.47. AMCON Distributing has a 12 month low of $59.15 and a 12 month high of $95.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.17 and a quick ratio of 0.82.

AMCON Distributing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. AMCON Distributing’s dividend payout ratio is presently 6.69%.

Institutional Investors Weigh In On AMCON Distributing

A number of hedge funds and other institutional investors have recently bought and sold shares of DIT. Empowered Funds LLC raised its holdings in shares of AMCON Distributing by 59.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock valued at $426,000 after purchasing an additional 1,782 shares during the last quarter. Renaissance Technologies LLC raised its holdings in AMCON Distributing by 50.0% during the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock worth $1,260,000 after acquiring an additional 4,666 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AMCON Distributing by 49.0% during 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 during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in AMCON Distributing by 1.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock valued at $1,006,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 11.14% of the company’s stock.

AMCON Distributing Company Profile

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.