StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

StockNews.com began coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT - Free Report) in a report issued on Saturday morning. The firm issued a hold rating on the stock.

AMCON Distributing Stock Down 1.5 %

Shares of NYSEAMERICAN:DIT traded down $2.02 on Friday, reaching $135.01. 116 shares of the company's stock were exchanged, compared to its average volume of 276. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.91 and a current ratio of 2.46. AMCON Distributing has a fifty-two week low of $118.25 and a fifty-two week high of $209.50. The stock has a market capitalization of $87.76 million, a price-to-earnings ratio of 18.83 and a beta of 0.57.

AMCON Distributing Dividend Announcement

The company also recently declared a special dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, December 30th. AMCON Distributing's dividend payout ratio is currently 10.04%.

Institutional Investors Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC increased its stake in AMCON Distributing (NYSEAMERICAN:DIT - Free Report) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,200 shares of the company's stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned about 1.30% of AMCON Distributing worth $1,152,000 at the end of the most recent quarter. 11.14% of the stock is currently owned by institutional investors and hedge funds.

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.