AMCON Distributing (NYSEAMERICAN:DIT) Posts Quarterly Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) issued its quarterly earnings results on Monday. The company reported $1.12 earnings per share for the quarter, FiscalAI reports. AMCON Distributing had a net margin of 0.09% and a return on equity of 2.58%. The company had revenue of $842.33 million during the quarter.

AMCON Distributing Stock Up 0.5%

Shares of NYSEAMERICAN DIT opened at $62.64 on Wednesday. AMCON Distributing has a 1 year low of $59.15 and a 1 year high of $95.59. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.75 and a quick ratio of 1.05. The company has a 50-day moving average price of $63.71 and a 200-day moving average price of $73.43. The stock has a market capitalization of $61.39 million, a P/E ratio of 25.22 and a beta of -0.17.

AMCON Distributing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 6th. AMCON Distributing’s payout ratio is 6.69%.

Institutional Trading of AMCON Distributing

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position 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 valued at $2,842,000 after acquiring an additional 10,393 shares during the period. Renaissance Technologies LLC grew its holdings in AMCON Distributing by 50.0% in the 1st 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 during the last quarter. Finally, Empowered Funds LLC increased its holdings in AMCON Distributing by 59.2% during the 1st 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 period. 11.14% of the stock is currently owned by institutional investors.

AMCON Distributing Company Profile

AMCON Distributing Corp. is a wholesale distributor of consumer products serving convenience stores, tobacco retailers, supermarkets, gas stations, restaurants and other businesses. The company distributes a broad range of products, including cigarettes and other tobacco products, cigars, electronic nicotine products, candy, snacks, beverages, groceries, frozen foods, health and beauty aids, paper products and general merchandise. AMCON serves customers primarily across the central and western United States through its regional distribution operations.