AMCON Distributing (NYSEAMERICAN:DIT) Issues Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) released its earnings results on Monday. The company reported $1.12 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $842.33 million for the quarter. AMCON Distributing had a return on equity of 1.58% and a net margin of 0.06%.

AMCON Distributing Stock Performance

Shares of AMCON Distributing stock traded down $1.13 during midday trading on Monday, hitting $61.17. The company had a trading volume of 602 shares, compared to its average volume of 1,317. The business’s 50 day simple moving average is $64.02 and its two-hundred day simple moving average is $73.54. The stock has a market cap of $59.94 million, a PE ratio of 32.25 and a beta of -0.17. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.75 and a quick ratio of 1.05. AMCON Distributing has a 1-year low of $59.15 and a 1-year high of $95.59.

AMCON Distributing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. AMCON Distributing’s dividend payout ratio (DPR) is presently 6.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in AMCON Distributing by 59.2% during the first quarter. Empowered Funds LLC now owns 4,789 shares of the company’s stock worth $426,000 after buying an additional 1,781 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 period. Finally, Dimensional Fund Advisors LP lifted its position in shares of AMCON Distributing by 49.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock worth $2,842,000 after acquiring an additional 10,393 shares during the period. Institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

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.