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

Climb Global Solutions, Inc. (NASDAQ:CLMB) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Shareholders 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 yield of 1.20%. The ex-dividend date is Friday, May 10th.

Climb Global Solutions has a 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 Trading Down 2.6 %

Shares of Climb Global Solutions stock traded down $1.50 during mid-day trading on Wednesday, hitting $56.88. 12,563 shares of the stock were exchanged, compared to its average volume of 10,396. The stock has a market capitalization of $260.79 million, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. 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 twelve month low of $37.67 and a twelve month high of $73.25. The company has a 50-day simple moving average of $67.04 and a 200 day simple moving average of $57.47.

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

Insider Transactions at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total value of $229,215.00. Following the transaction, the chief executive officer now directly owns 102,092 shares in the company, valued at approximately $6,686,005.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.05, for a total transaction of $32,525.00. Following the transaction, 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 at the SEC website. Also, CEO Dale Richard Foster sold 3,500 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value 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. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

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