AMCON Distributing Company (NYSEAMERICAN:DIT) Short Interest Down 16.7% in July

Key Points

• Short interest in AMCON Distributing Company decreased by 16.7% in July, falling to 500 shares, which represents only 0.3% of the total shares outstanding.
• The company announced a quarterly dividend of $0.18 per share, to be paid on August 29th, translating to a 0.65% yield and a payout ratio of 10.04%.
• CM Management LLC increased its stake in AMCON Distributing by 5.1%, now holding 8,754 shares, with 11.14% of the stock owned by institutional investors.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 500 shares, a drop of 16.7% from the June 30th total of 600 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 400 shares, the short-interest ratio is presently 1.3 days.

AMCON Distributing Price Performance

Shares of DIT traded down $0.45 during trading hours on Wednesday, reaching $109.50. 525 shares of the company's stock traded hands, compared to its average volume of 431. The company has a current ratio of 2.74, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The firm's 50 day simple moving average is $109.30 and its 200-day simple moving average is $113.57. The stock has a market cap of $71.18 million, a PE ratio of 50.69 and a beta of 0.56. AMCON Distributing has a 12 month low of $94.92 and a 12 month high of $163.75.

AMCON Distributing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.66%. AMCON Distributing's dividend payout ratio is presently 10.04%.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of AMCON Distributing in a research report on Saturday, May 17th. They issued a "hold" rating for the company.

Institutional Investors Weigh In On AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC increased its stake in shares of AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,754 shares of the company's stock after buying an additional 421 shares during the quarter. CM Management LLC owned about 1.36% of AMCON Distributing worth $1,027,000 at the end of the most recent quarter. 11.14% of the stock is owned by hedge funds and other institutional investors.

AMCON Distributing Company Profile

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.