AMCON Distributing (NYSEAMERICAN:DIT) Share Price Passes Below 200 Day Moving Average - What's Next?

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $115.40 and traded as low as $102.73. AMCON Distributing shares last traded at $106.90, with a volume of 735 shares trading hands.

Wall Street Analysts Forecast Growth

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

AMCON Distributing Trading Up 3.0%

The stock has a fifty day moving average of $108.35 and a two-hundred day moving average of $114.84. The company has a market capitalization of $68.25 million, a PE ratio of 42.17 and a beta of 0.58. The company has a current ratio of 2.61, a quick ratio of 0.86 and a debt-to-equity ratio of 1.40.

AMCON Distributing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 9th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, May 9th. AMCON Distributing's dividend payout ratio is presently 10.04%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC increased its holdings in AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,754 shares of the company's stock after acquiring an additional 421 shares during the quarter. CM Management LLC owned about 1.36% of AMCON Distributing worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 11.14% of the company's stock.

About AMCON Distributing

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.