AMCON Distributing (NYSEAMERICAN:DIT) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• AMCON Distributing shares fell below their 200-day moving average on Friday, dipping to $65.00 versus the $77.71 average. The stock traded on light volume of 311 shares.
• The company recently paid a quarterly dividend of $0.12 per share, which annualizes to $0.48 and yields about 0.7%. Its dividend payout ratio is 6.69%.
• Institutional ownership remains active, with several firms increasing their stakes in recent quarters, including Renaissance Technologies and Dimensional Fund Advisors. Overall, institutional investors and hedge funds own 11.14% of the stock.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $77.71 and traded as low as $65.00. AMCON Distributing shares last traded at $65.00, with a volume of 311 shares changing 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 firm has a market capitalization of $63.70 million, a price-to-earnings ratio of 139.29 and a beta of -0.22. The stock's 50 day moving average price is $73.18 and its two-hundred day moving average price is $77.71.

AMCON Distributing Dividend Announcement

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

Institutional Investors Weigh In On AMCON Distributing

Several institutional investors have recently made changes to their positions in DIT. Bridgeway Capital Management LLC increased its holdings in AMCON Distributing by 1.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company's stock worth $1,006,000 after buying an additional 136 shares during the last quarter. Empowered Funds LLC lifted its stake in AMCON Distributing by 4.7% in the fourth quarter. Empowered Funds LLC now owns 3,008 shares of the company's stock valued at $333,000 after acquiring an additional 136 shares during the last quarter. Renaissance Technologies LLC lifted its stake in AMCON Distributing by 50.0% in the first 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. Finally, Dimensional Fund Advisors LP grew its position in AMCON Distributing by 49.0% in the first 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 in the last quarter. 11.14% of the stock is currently owned by institutional investors and hedge funds.

About AMCON Distributing

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.

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