AMCON Distributing (NYSEAMERICAN:DIT) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Shares of AMCON Distributing Company (NYSEAMERICAN:DIT) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $114.32 and traded as high as $119.68. AMCON Distributing shares last traded at $117.05, with a volume of 394 shares changing hands.

AMCON Distributing Trading Down 1.4%

The firm has a market cap of $76.08 million, a price-to-earnings ratio of 54.19 and a beta of 0.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.74 and a quick ratio of 1.06. The firm’s fifty day moving average is $114.32 and its 200-day moving average is $112.54.

AMCON Distributing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.6%. AMCON Distributing’s payout ratio is 10.04%.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC grew its stake in shares of AMCON Distributing Company (NYSEAMERICAN:DIT) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,754 shares of the company’s stock after purchasing an additional 421 shares during the period. CM Management LLC owned approximately 1.36% of AMCON Distributing worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.