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

Climb Global Solutions, Inc. (NASDAQ:CLMB) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.17 per share on Friday, May 17th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, May 10th.

Climb Global Solutions has a dividend payout ratio of 20.3% meaning 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 Trading Down 0.9 %

NASDAQ:CLMB opened at $56.36 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.09. Climb Global Solutions has a 1 year low of $37.67 and a 1 year high of $73.25. The stock has a market cap of $258.41 million, a P/E ratio of 21.84, a P/E/G ratio of 2.02 and a beta of 0.98. The stock has a 50-day simple moving average of $67.00 and a 200-day simple moving average of $57.46.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. Climb Global Solutions had a net margin of 3.26% and a return on equity of 18.93%. During the same period last year, the firm earned $0.74 earnings per share. As a group, analysts anticipate that Climb Global Solutions will post 2.92 earnings per share for the current fiscal year.

Insider Transactions at Climb Global Solutions

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

Analyst Ratings Changes

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