AMCON Distributing (NYSEAMERICAN:DIT) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• AMCON Distributing's share price has crossed above its 50-day moving average, reaching a high of $119.68 before settling at $117.05.
• The company announced a $0.18 quarterly dividend, translating to an annualized yield of 0.6% and a payout ratio of 10.04%.
• Institutional ownership in AMCON Distributing is approximately 11.14%, with CM Management LLC increasing its position by 5.1% recently.

AMCON Distributing Company (NYSEAMERICAN:DIT - ) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $114.32 and traded as high as $119.68. AMCON Distributing shares last traded at $117.05, with a volume of 394 shares.

AMCON Distributing Trading Down 1.4%

The company has a quick ratio of 1.06, a current ratio of 2.74 and a debt-to-equity ratio of 1.48. The company has a market cap of $76.08 million, a P/E ratio of 54.19 and a beta of 0.43. The firm's 50 day moving average is $114.32 and its two-hundred day moving average is $112.54.

AMCON Distributing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.6%. AMCON Distributing's dividend payout ratio is 10.04%.

Institutional Trading of AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC increased its holdings in AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,754 shares of the company's stock after purchasing an additional 421 shares during the quarter. CM Management LLC owned approximately 1.36% of AMCON Distributing worth $1,027,000 at the end of the most recent reporting period. Institutional investors own 11.14% of the company's stock.

AMCON Distributing Company Profile

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.

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