AMCON Distributing (NYSEAMERICAN:DIT) Posts Quarterly Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) posted its quarterly earnings data on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, reports. The business had revenue of $601.88 million during the quarter. AMCON Distributing had a net margin of 0.32% and a return on equity of 8.19%.

AMCON Distributing Price Performance

DIT stock opened at $165.70 on Friday. AMCON Distributing has a 12 month low of $162.54 and a 12 month high of $249.99. The company has a market cap of $104.39 million, a P/E ratio of 11.70 and a beta of 0.50. The company has a quick ratio of 1.17, a current ratio of 3.35 and a debt-to-equity ratio of 1.41.

AMCON Distributing Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Friday, February 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Thursday, February 1st. AMCON Distributing’s dividend payout ratio is presently 5.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of AMCON Distributing in a report on Sunday. They issued a “hold” rating for the company. TheStreet lowered shares of AMCON Distributing from a “b-” rating to a “c” rating in a research note on Thursday, January 18th.

Institutional Investors Weigh In On AMCON Distributing

Several hedge funds have recently made changes to their positions in DIT. CM Management LLC lifted its position in shares of AMCON Distributing by 20.7% in the 3rd quarter. CM Management LLC now owns 7,240 shares of the company’s stock valued at $1,491,000 after acquiring an additional 1,240 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AMCON Distributing by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,163 shares of the company’s stock valued at $4,011,000 after acquiring an additional 660 shares in the last quarter. Royal Bank of Canada purchased a new stake in shares of AMCON Distributing in the 2nd quarter valued at approximately $103,000. Bridgeway Capital Management LLC lifted its position in shares of AMCON Distributing by 2.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 8,797 shares of the company’s stock valued at $1,715,000 after acquiring an additional 192 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in AMCON Distributing by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 10,726 shares of the company’s stock worth $1,748,000 after buying an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 11.14% of the company’s stock.

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.