AMCON Distributing (NYSEAMERICAN:DIT) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

AMCON Distributing Company (NYSEAMERICAN:DIT) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $77.03 and traded as low as $69.00. AMCON Distributing shares last traded at $70.0820, with a volume of 103 shares changing hands.

AMCON Distributing Stock Performance

The business’s fifty day moving average price is $68.64 and its 200-day moving average price is $77.00. 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 stock has a market capitalization of $68.64 million, a PE ratio of 36.93 and a beta of -0.20.

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

AMCON Distributing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. AMCON Distributing’s dividend payout ratio is presently 6.69%.

Institutional Investors Weigh In On AMCON Distributing

A number of institutional investors and hedge funds have recently made changes to their positions in DIT. Empowered Funds LLC grew its position in AMCON Distributing by 4.7% during the fourth quarter. Empowered Funds LLC now owns 3,008 shares of the company’s stock worth $333,000 after buying an additional 136 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of AMCON Distributing by 1.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock valued at $1,006,000 after acquiring an additional 136 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AMCON Distributing by 49.0% during the 1st 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 last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of AMCON Distributing by 50.0% during the 1st 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. Hedge funds and other institutional investors own 11.14% of the company’s stock.

AMCON Distributing Company Profile

AMCON Distributing, headquartered in Brentwood, Tennessee, operates as a wholesale distributor of tobacco, vaping products and convenience store items. The company’s core portfolio includes cigarettes, smokeless tobacco, e-liquids, snacks, beverages and general merchandise. Through its network of regional warehouses and dedicated delivery fleet, AMCON serves convenience stores, independent retailers, gas stations and small grocery outlets, offering daily restocking and inventory management solutions tailored to each customer’s needs.

Covering multiple states across the Southeastern and South Central United States, AMCON maintains distribution points in Tennessee, Georgia, Alabama, Kentucky, Mississippi and portions of Florida and Texas.