AMCON Distributing (NYSEAMERICAN:DIT) Shares Cross Below 200-Day Moving Average - Here's Why

Key Points

• AMCON Distributing shares fell below their 200-day moving average of $77.03, reaching as low as $69.00 before last trading at approximately $70.08 on low volume.
• The company reported quarterly revenue of $835.34 million and earnings per share of $2.85, but its net margin was only 0.06% and return on equity was 1.58%.
• AMCON declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.7% yield; institutional investors own 11.14% of the stock.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $77.03 and traded as low as $69.00. AMCON Distributing shares last traded at $70.0820, with a volume of 103 shares.

AMCON Distributing Stock Performance

The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.05 and a current ratio of 2.75. The stock has a market cap of $68.68 million, a PE ratio of 36.95 and a beta of -0.22. The company's 50-day moving average price is $68.63 and its two-hundred day moving average price is $77.03.

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

AMCON Distributing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.7%. AMCON Distributing's payout ratio is 6.69%.

Hedge Funds Weigh In On AMCON Distributing

Institutional investors have recently modified their holdings of the company. Empowered Funds LLC raised its holdings in shares of AMCON Distributing by 4.7% during the 4th quarter. Empowered Funds LLC now owns 3,008 shares of the company's stock valued at $333,000 after buying an additional 136 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in AMCON Distributing by 1.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company's stock worth $1,006,000 after buying an additional 136 shares in the last quarter. Dimensional Fund Advisors LP grew 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 valued at $2,842,000 after acquiring an additional 10,393 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in AMCON Distributing by 50.0% during the first 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 during the last quarter. 11.14% of the stock is currently owned by institutional investors.

AMCON Distributing Company Profile

AMCON Distributing, headquartered in Brentwood, Tennessee, operates as a wholesale distributor of tobacco, vaping products and convenience store items. The company's core portfolio includes cigarettes, smokeless tobacco, e-liquids, snacks, beverages and general merchandise. Through its network of regional warehouses and dedicated delivery fleet, AMCON serves convenience stores, independent retailers, gas stations and small grocery outlets, offering daily restocking and inventory management solutions tailored to each customer's needs.

Covering multiple states across the Southeastern and South Central United States, AMCON maintains distribution points in Tennessee, Georgia, Alabama, Kentucky, Mississippi and portions of Florida and Texas.

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