Climb Global Solutions (NASDAQ:CLMB) Hits New 1-Year High Following Dividend Announcement

Climb Global Solutions, Inc. (NASDAQ:CLMB) shares hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $117.64 and last traded at $117.64, with a volume of 1282 shares changing hands. The stock had previously closed at $105.58.

The newly announced dividend which will be paid on Friday, November 15th. Investors of record on Monday, November 11th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 0.68%. Climb Global Solutions’s dividend payout ratio (DPR) is presently 18.43%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $90.00 target price on shares of Climb Global Solutions in a report on Thursday, October 10th.

Climb Global Solutions Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 1.10. The firm has a market cap of $461.83 million, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.93 and a beta of 1.06. The stock has a 50-day simple moving average of $98.20 and a two-hundred day simple moving average of $75.90.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.35. The business had revenue of $92.08 million for the quarter, compared to analysts’ expectations of $97.27 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 24.44%. As a group, sell-side analysts anticipate that Climb Global Solutions, Inc. will post 3.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CLMB. Rhumbline Advisers increased its holdings in Climb Global Solutions by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock worth $266,000 after acquiring an additional 237 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Climb Global Solutions in the third quarter worth approximately $38,000. Lakewood Asset Management LLC increased its stake in shares of Climb Global Solutions by 6.6% in the third quarter. Lakewood Asset Management LLC now owns 9,862 shares of the company’s stock worth $982,000 after purchasing an additional 608 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Climb Global Solutions by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,954 shares of the company’s stock valued at $2,510,000 after purchasing an additional 919 shares during the period. Finally, Ancora Advisors LLC raised its position in shares of Climb Global Solutions by 4.2% during the 1st quarter. Ancora Advisors LLC now owns 28,101 shares of the company’s stock valued at $1,992,000 after purchasing an additional 1,140 shares during the period. Institutional investors own 49.72% of the company’s stock.

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.