AMCON Distributing (NYSEAMERICAN:DIT) Share Price Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• AMCON Distributing shares moved above their 50-day moving average, reaching $69.40 before last trading at $67.73; however, the stock remained below its 200-day average of $75.30.
• The company reported quarterly revenue of $835.34 million and earnings of $2.85 per share, but profitability remained very thin, with a 0.06% net margin and 1.58% return on equity.
• AMCON declared a quarterly dividend of $0.12, equivalent to $0.48 annually and a 0.7% yield. Institutional ownership stood at 11.14%, with several investment firms increasing their positions.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $67.13 and traded as high as $69.40. AMCON Distributing shares last traded at $67.73, with a volume of 4,667 shares.

AMCON Distributing Price Performance

The stock's 50-day moving average price is $67.13 and its 200 day moving average price is $75.30. The firm has a market capitalization of $66.38 million, a price-to-earnings ratio of 35.71 and a beta of -0.23. The company has a quick ratio of 1.05, a current ratio of 2.75 and a debt-to-equity ratio of 1.46.

AMCON Distributing (NYSEAMERICAN:DIT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.85 earnings per share for the quarter. The firm had revenue of $835.34 million for the quarter. AMCON Distributing had a net margin of 0.06% and a return on equity of 1.58%.

AMCON Distributing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were issued a $0.12 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. AMCON Distributing's dividend payout ratio is presently 6.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in AMCON Distributing by 49.0% during the first quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company's stock worth $2,842,000 after buying an additional 10,393 shares in the last quarter. Renaissance Technologies LLC boosted its stake in AMCON Distributing by 50.0% during the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company's stock worth $1,260,000 after buying an additional 4,666 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in AMCON Distributing by 59.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock valued at $426,000 after buying an additional 1,782 shares in the last quarter. 11.14% of the stock is currently owned by institutional investors and hedge funds.

About AMCON Distributing

AMCON Distributing Company is a wholesale distributor of consumer products in the United States. The company supplies convenience stores, independent retailers, supermarkets, discount stores, drugstores, tobacco shops, and other retail businesses with a broad range of products.

Its wholesale product portfolio includes cigarettes and other tobacco products, candy, snacks, beverages, groceries, paper products, health and beauty care items, and general merchandise. AMCON serves retail customers primarily across the Midwest, Great Plains, and Southeastern United States through its distribution operations.

In addition to its wholesale business, AMCON operates natural and organic food stores through retail banners that have included Chamberlin's Natural Foods, Akin's Natural Foods, and Earth Origins Market.

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