AMCON Distributing (NYSEAMERICAN:DIT) Stock Passes Below 200-Day Moving Average - Here's What Happened

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $113.95 and traded as low as $112.50. AMCON Distributing shares last traded at $112.50, with a volume of 174 shares.

Analysts Set New Price Targets

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

AMCON Distributing Trading Down 2.6%

The business's 50-day moving average is $108.30 and its two-hundred day moving average is $113.95. The company has a current ratio of 2.61, a quick ratio of 0.86 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $73.13 million, a PE ratio of 45.18 and a beta of 0.56.

AMCON Distributing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 9th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.72 dividend on an annualized basis and a yield of 0.64%. AMCON Distributing's dividend payout ratio (DPR) is 10.04%.

Institutional Trading of AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC grew its holdings in shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,754 shares of the company's stock after acquiring an additional 421 shares during the period. CM Management LLC owned about 1.36% of AMCON Distributing worth $1,027,000 as of its most recent SEC filing. 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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