AMCON Distributing (NYSEAMERICAN:DIT) Shares Break Below 200-Day Moving Average – Here’s What Happened

AMCON Distributing Company (NYSEAMERICAN:DIT) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $73.27 and traded as low as $61.00. AMCON Distributing shares last traded at $61.70, with a volume of 5,807 shares.

AMCON Distributing Stock Up 0.4%

The stock has a market capitalization of $59.35 million, a P/E ratio of 31.93 and a beta of -0.23. The firm’s 50-day simple moving average is $65.96 and its 200 day simple moving average is $73.05. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.05 and a current ratio of 2.75.

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

AMCON Distributing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.8%. AMCON Distributing’s dividend payout ratio (DPR) is presently 6.69%.

Institutional Investors Weigh In On AMCON Distributing

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC increased its stake in 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 acquiring an additional 1,782 shares during the last quarter. Renaissance Technologies LLC grew its position in AMCON Distributing by 50.0% in the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock valued at $1,260,000 after acquiring an additional 4,666 shares during the last quarter. 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 worth $2,842,000 after acquiring an additional 10,393 shares during the last quarter. 11.14% of the stock is currently owned by institutional investors and hedge funds.

AMCON Distributing Company Profile

AMCON Distributing Company is a wholesale distributor of consumer products serving convenience stores, tobacco outlets, grocery stores, drugstores, liquor stores, and other retail businesses. Its product portfolio includes cigarettes and other tobacco products, cigars, candy, snacks, beverages, groceries, paper products, health and beauty items, general merchandise, and foodservice supplies.

The company serves customers across portions of the Midwest, Great Plains, Rocky Mountain, and Southeastern regions of the United States through a network of distribution facilities.