Climb Global Solutions, Inc. (NASDAQ:CLMB) Announces $0.17 Quarterly Dividend

Climb Global Solutions, Inc. (NASDAQ:CLMB) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Investors of record on Monday, May 13th will be paid a dividend of 0.17 per share on Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, May 10th.

Climb Global Solutions has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Climb Global Solutions to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.3%.

Climb Global Solutions Stock Performance

Climb Global Solutions stock traded down $1.50 during midday trading on Wednesday, hitting $56.88. The stock had a trading volume of 12,563 shares, compared to its average volume of 10,396. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. Climb Global Solutions has a 52-week low of $37.67 and a 52-week high of $73.25. The firm’s fifty day moving average is $67.04 and its two-hundred day moving average is $57.47. The company has a market capitalization of $260.79 million, a PE ratio of 22.05, a P/E/G ratio of 2.02 and a beta of 0.98.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. The business had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. During the same quarter in the previous year, the company posted $0.74 EPS. On average, research analysts forecast that Climb Global Solutions will post 2.92 EPS for the current year.

Insider Activity at Climb Global Solutions

In related news, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the transaction, the chief marketing officer now directly owns 37,097 shares of the company’s stock, valued at $2,413,159.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CMO Charles Edward Bass sold 500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the transaction, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dale Richard Foster sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total value of $229,215.00. Following the sale, the chief executive officer now directly owns 102,092 shares in the company, valued at $6,686,005.08. The disclosure for this sale can be found here. 9.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Barrington Research reduced their price target on shares of Climb Global Solutions from $76.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.