AMCON Distributing (NYSEAMERICAN:DIT) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

AMCON Distributing Company (NYSEAMERICAN:DIT)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $76.72 and traded as low as $63.00. AMCON Distributing shares last traded at $63.00, with a volume of 269 shares.

AMCON Distributing Stock Performance

The company has a 50-day moving average of $68.02 and a 200-day moving average of $76.57. The company has a market cap of $63.48 million, a PE ratio of 34.15 and a beta of -0.20. The company has a quick ratio of 1.05, a current ratio of 2.75 and a debt-to-equity ratio of 1.46.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.85 earnings per share 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 for the quarter.

AMCON Distributing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 7th. AMCON Distributing’s dividend payout ratio (DPR) is presently 6.69%.

Institutional Trading of AMCON Distributing

A number of large investors have recently added to or reduced their stakes in DIT. Empowered Funds LLC raised its position in AMCON Distributing by 4.7% in the fourth quarter. Empowered Funds LLC now owns 3,008 shares of the company’s stock worth $333,000 after acquiring an additional 136 shares during the period. Bridgeway Capital Management LLC grew its position in shares of AMCON Distributing by 1.4% during 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 during the period. Dimensional Fund Advisors LP grew 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 period. Finally, Renaissance Technologies LLC increased its stake 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 worth $1,260,000 after purchasing 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.