AMCON Distributing (NYSEAMERICAN:DIT) Shares Cross Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• AMCON Distributing's shares have fallen below their 200-day moving average of $112.19, closing at $111.50 with a trading volume of 530 shares.
• Wall Street analysts have issued a "hold" rating on the stock, indicating cautious optimism about its performance.
• The company declared a quarterly dividend of $0.18 per share, translating to an annual yield of 0.6% and a payout ratio of 10.04%.

Shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $112.19 and traded as low as $111.50. AMCON Distributing shares last traded at $111.50, with a volume of 530 shares traded.

Wall Street Analysts Forecast Growth

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

AMCON Distributing Stock Performance

The stock's 50-day moving average price is $113.58 and its 200 day moving average price is $112.19. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.74 and a quick ratio of 1.06. The firm has a market cap of $72.48 million, a P/E ratio of 51.62 and a beta of 0.49.

AMCON Distributing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.6%. AMCON Distributing's dividend payout ratio (DPR) is currently 10.04%.

Institutional Trading of 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% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,754 shares of the company's stock after acquiring an additional 421 shares during the quarter. CM Management LLC owned 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.

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