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

Climb Global Solutions, Inc. (NASDAQ:CLMB) announced 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 annualized dividend and a dividend yield of 1.20%. 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 2.6 %

NASDAQ:CLMB traded down $1.50 during trading hours on Wednesday, hitting $56.88. The company had a trading volume of 12,563 shares, compared to its average volume of 10,396. Climb Global Solutions has a 1 year low of $37.67 and a 1 year high of $73.25. The company has a market cap of $260.79 million, a P/E ratio of 22.05, a P/E/G ratio of 2.02 and a beta of 0.98. The company has a 50-day moving average of $67.04 and a 200 day moving average of $57.47. 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 (NASDAQ:CLMB) last released 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 net margin of 3.26% and a return on equity of 18.93%. The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. During the same period last year, the firm posted $0.74 earnings per share. Sell-side analysts expect that Climb Global Solutions will post 2.92 earnings per share for the current year.

Insider Activity at Climb Global Solutions

In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total transaction of $229,215.00. Following the transaction, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Climb Global Solutions 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 completion of the transaction, the chief marketing officer now owns 37,097 shares in the company, valued at approximately $2,413,159.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dale Richard Foster sold 3,500 shares of Climb Global Solutions 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 directly owns 102,092 shares in the company, valued at approximately $6,686,005.08. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Barrington Research decreased their price objective on Climb Global Solutions from $76.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday.

About Climb Global Solutions

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.