AMCON Distributing (NYSEAMERICAN:DIT) Stock Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• AMCON Distributing's shares fell below the 200-day moving average of $112.64, trading at $112.00 with a low of $104.69 during Monday's session.
• Wall Street Zen has initiated coverage of AMCON Distributing with a "hold" rating on the stock.
• The company announced a quarterly dividend of $0.18 per share, with an annualized yield of 0.6%, implicating a payout ratio of 10.04%.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $112.64 and traded as low as $104.69. AMCON Distributing shares last traded at $112.00, with a volume of 1,030 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on shares of AMCON Distributing in a report on Saturday, May 17th. They issued a "hold" rating on the stock.

AMCON Distributing Trading Up 6.4%

The company has a current ratio of 2.74, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $76.78 million, a P/E ratio of 54.69 and a beta of 0.50. The business has a 50 day moving average of $111.59 and a 200-day moving average of $112.24.

AMCON Distributing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.6%. AMCON Distributing's dividend payout ratio is 10.04%.

Institutional Investors Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC boosted its position in shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,754 shares of the company's stock after purchasing an additional 421 shares during the period. CM Management LLC owned about 1.36% of AMCON Distributing worth $1,027,000 at the end of the most recent reporting period. Hedge funds and other 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.