AMCON Distributing (NYSEAMERICAN:DIT) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• AMCON Distributing shares fell below their 200-day moving average of $73.27, trading as low as $61.00 and last changing hands at $61.70 on volume of 5,807 shares.
• The company reported quarterly revenue of $835.34 million and earnings of $2.85 per share, but had a very slim 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 0.8% yield. Institutional investors and hedge funds owned 11.14% of the company after several firms increased their positions.

Shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $73.27 and traded as low as $61.00. AMCON Distributing shares last traded at $61.70, with a volume of 5,807 shares trading hands.

AMCON Distributing Stock Performance

The stock has a 50 day moving average of $66.11 and a 200 day moving average of $73.27. The company has a quick ratio of 1.05, a current ratio of 2.75 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $60.47 million, a price-to-earnings ratio of 32.53 and a beta of -0.23.

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

AMCON Distributing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 7th. AMCON Distributing's payout ratio is presently 6.69%.

Hedge Funds Weigh In On AMCON Distributing

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of AMCON Distributing by 59.2% during the 1st quarter. Empowered Funds LLC now owns 4,789 shares of the company's stock worth $426,000 after buying an additional 1,781 shares during the period. Renaissance Technologies LLC increased its stake in shares of AMCON Distributing by 50.0% in the 1st quarter. Renaissance Technologies LLC now owns 14,001 shares of the company's stock valued at $1,260,000 after acquiring an additional 4,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company's stock valued at $2,842,000 after acquiring an additional 10,393 shares during the period. 11.14% of the stock is owned by institutional investors and hedge funds.

AMCON Distributing Company Profile

AMCON Distributing Company is a wholesale distributor of consumer products serving convenience stores, tobacco outlets, grocery stores, drugstores, liquor stores, and other retail businesses. Its product portfolio includes cigarettes and other tobacco products, cigars, candy, snacks, beverages, groceries, paper products, health and beauty items, general merchandise, and foodservice supplies.

The company serves customers across portions of the Midwest, Great Plains, Rocky Mountain, and Southeastern regions of the United States through a network of distribution facilities.

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