AMCON Distributing (NYSEAMERICAN:DIT) Posts Quarterly Earnings Results

AMCON Distributing (NYSEAMERICAN:DIT) issued its earnings results on Wednesday. The company reported $2.85 earnings per share for the quarter, FiscalAI reports. The business had revenue of $835.34 million for the quarter. AMCON Distributing had a net margin of 0.01% and a return on equity of 0.38%.

AMCON Distributing Stock Performance

NYSEAMERICAN DIT traded down $2.17 on Wednesday, hitting $66.69. 423 shares of the company’s stock were exchanged, compared to its average volume of 3,775. The firm has a market cap of $65.35 million, a price-to-earnings ratio of 142.90 and a beta of -0.22. The firm’s 50-day moving average price is $71.13 and its two-hundred day moving average price is $77.52. AMCON Distributing has a fifty-two week low of $59.15 and a fifty-two week high of $95.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.17 and a quick ratio of 0.82.

AMCON Distributing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.7%. AMCON Distributing’s payout ratio is presently 6.69%.

Institutional Trading of AMCON Distributing

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its holdings 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 acquiring an additional 136 shares during the period. Bridgeway Capital Management LLC lifted 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 period. Renaissance Technologies LLC boosted its position in shares of AMCON Distributing by 50.0% during the 1st quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock worth $1,260,000 after purchasing an additional 4,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 worth $2,842,000 after purchasing an additional 10,393 shares in the last quarter. 11.14% of the stock is currently owned by hedge funds and other institutional investors.

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.