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

Key Points

• AMCON Distributing shares fell 6.9% to $63, moving below their 200-day moving average of $76.72 on relatively light volume of 269 shares.
• The company reported quarterly EPS of $2.85 on $835.34 million in revenue, but its net margin was only 0.06% and return on equity was 1.58%.
• AMCON paid a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 dividend and a 0.8% yield; institutional investors own 11.14% of the stock.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $76.72 and traded as low as $63.00. AMCON Distributing shares last traded at $63.00, with a volume of 269 shares changing hands.

AMCON Distributing Trading Down 6.9%

The business's fifty day moving average is $68.32 and its 200-day moving average is $76.72. 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 firm has a market cap of $61.74 million, a P/E ratio of 33.22 and a beta of -0.20.

AMCON Distributing (NYSEAMERICAN:DIT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.85 earnings per share (EPS) for the quarter. The firm 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 Announces Dividend

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

Institutional Investors Weigh In On AMCON Distributing

A number of institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC boosted its holdings in AMCON Distributing by 1.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company's stock valued at $1,006,000 after acquiring an additional 136 shares during the last quarter. Empowered Funds LLC raised its stake in AMCON Distributing by 4.7% during the fourth quarter. Empowered Funds LLC now owns 3,008 shares of the company's stock worth $333,000 after buying an additional 136 shares during the last quarter. Renaissance Technologies LLC raised 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, Dimensional Fund Advisors LP grew its holdings in AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company's stock worth $2,842,000 after acquiring an additional 10,393 shares during the period. Institutional investors own 11.14% of the company's stock.

About AMCON Distributing

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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