Climb Global Solutions, Inc. (CLMB) To Go Ex-Dividend on May 10th

Climb Global Solutions, Inc. (NASDAQ:CLMB) announced 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 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 Stock Down 2.6 %

Shares of NASDAQ CLMB traded down $1.50 during mid-day trading on Wednesday, hitting $56.88. 12,563 shares of the stock traded hands, compared to its average volume of 10,396. The company has a market cap of $260.79 million, a price-to-earnings ratio of 22.05, a PEG ratio of 2.02 and a beta of 0.98. The stock has a fifty day moving average price of $67.04 and a 200-day moving average price of $57.47. Climb Global Solutions has a 52 week low of $37.67 and a 52 week high of $73.25. 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 (NASDAQ:CLMB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 18.93% and a net margin of 3.26%. During the same quarter in the previous year, the company earned $0.74 EPS. Research analysts anticipate that Climb Global Solutions will post 2.92 EPS for the current year.

Analyst Ratings Changes

Separately, Barrington Research decreased 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.

Insiders Place Their Bets

In other news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction that occurred 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 sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at $2,413,159.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Climb Global Solutions 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 of the company’s stock, valued at $6,686,005.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the sale, the chief marketing officer now directly owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.

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.