AMCON Distributing (NYSEAMERICAN:DIT) Stock Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• AMCON Distributing shares fell 6.4% and traded below their 200-day moving average of $75.82, reaching as low as $67.56 and closing at $63.25 on low volume.
• The company reported quarterly revenue of $835.34 million and earnings of $2.85 per share, but posted a very low 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 increased their holdings, with hedge funds collectively owning 11.14% of the stock.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $75.82 and traded as low as $67.56. AMCON Distributing shares last traded at $63.25, with a volume of 587 shares traded.

AMCON Distributing Stock Down 6.4%

The business has a 50-day moving average price of $67.21 and a two-hundred day moving average price of $75.82. 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 firm has a market cap of $61.98 million, a PE ratio of 33.35 and a beta of -0.20.

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

AMCON Distributing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. AMCON Distributing's dividend payout ratio (DPR) is currently 6.69%.

Hedge Funds Weigh In On AMCON Distributing

Several hedge funds and other institutional investors have recently made changes to their positions in DIT. Dimensional Fund Advisors LP increased its stake in shares of 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 during the period. Renaissance Technologies LLC lifted its stake in AMCON Distributing by 50.0% in the first quarter. Renaissance Technologies LLC now owns 14,001 shares of the company's stock worth $1,260,000 after acquiring an additional 4,666 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in AMCON Distributing by 59.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock worth $426,000 after acquiring an additional 1,782 shares during the last quarter. Hedge funds and other institutional investors own 11.14% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.