AMCON Distributing (NYSEAMERICAN:DIT) Shares Cross Below 200 Day Moving Average - What's Next?

Shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $114.49 and traded as low as $109.00. AMCON Distributing shares last traded at $115.00, with a volume of 582 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed 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 5.0%

The stock has a market cap of $75.14 million, a price-to-earnings ratio of 46.43 and a beta of 0.56. The business's fifty day simple moving average is $108.13 and its 200 day simple moving average is $114.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.61 and a quick ratio of 0.86.

AMCON Distributing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.62%. AMCON Distributing's dividend payout ratio is 10.04%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC lifted its position in shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,754 shares of the company's stock after buying 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 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.