AMCON Distributing (NYSEAMERICAN:DIT) Share Price Passes Below 200 Day Moving Average – Here’s Why

AMCON Distributing Company (NYSEAMERICAN:DIT)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.46 and traded as low as $68.00. AMCON Distributing shares last traded at $68.00, with a volume of 239 shares trading hands.

AMCON Distributing Price Performance

The company has a quick ratio of 0.82, a current ratio of 2.17 and a debt-to-equity ratio of 1.29. The stock has a market cap of $66.64 million, a price-to-earnings ratio of 145.72 and a beta of -0.22. The company’s 50-day moving average is $80.99 and its 200-day moving average is $78.46.

AMCON Distributing (NYSEAMERICAN:DIT) last released its quarterly earnings data on Monday, April 20th. The company reported ($2.34) earnings per share (EPS) for the quarter. AMCON Distributing had a return on equity of 0.38% and a net margin of 0.01%.The company had revenue of $715.65 million for the quarter.

AMCON Distributing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were given a $0.12 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. AMCON Distributing’s payout ratio is 6.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock worth $2,842,000 after buying an additional 10,393 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of AMCON Distributing by 50.0% in the first 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. Empowered Funds LLC raised its stake in shares of AMCON Distributing by 59.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $426,000 after acquiring an additional 1,782 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of AMCON Distributing by 1.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock worth $1,006,000 after purchasing an additional 136 shares in the last quarter. 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.