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

Key Points

• Climb Global Solutions, Inc. announced a quarterly dividend of $0.17 per share, payable on August 15th to stockholders of record as of August 11th, reflecting a 0.6% dividend yield.
• The company reported strong earnings with an EPS of $1.39, significantly exceeding analysts' expectations of $0.90, along with revenue of $159.28 million against an anticipated $113.25 million.
• Climb Global Solutions' stock saw an increase of 16.2%, trading at $118.00, with a market capitalization of $542.80 million and a PE ratio of 27.63.

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) declared a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Stockholders of record on Monday, August 11th will be paid a dividend of 0.17 per share on Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, August 11th.

Climb Global Solutions has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Climb Global Solutions to earn $4.55 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 14.9%.

Climb Global Solutions Trading Up 1.5%

Shares of NASDAQ:CLMB traded up $1.71 on Monday, reaching $112.96. The company had a trading volume of 7,283 shares, compared to its average volume of 53,184. Climb Global Solutions has a 52-week low of $59.85 and a 52-week high of $144.99. The firm's 50 day simple moving average is $105.70 and its 200-day simple moving average is $112.06. The firm has a market capitalization of $519.63 million, a PE ratio of 23.43, a PEG ratio of 1.80 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.49. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%. The business had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million. As a group, equities research analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current year.

Institutional Trading of Climb Global Solutions

A number of institutional investors have recently made changes to their positions in CLMB. LPL Financial LLC acquired a new stake in shares of Climb Global Solutions in the 4th quarter worth $1,093,000. Vanguard Group Inc. boosted its position in shares of Climb Global Solutions by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 232,712 shares of the company's stock worth $29,496,000 after purchasing an additional 5,195 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Climb Global Solutions by 112.9% in the 4th quarter. JPMorgan Chase & Co. now owns 16,088 shares of the company's stock worth $2,039,000 after purchasing an additional 8,530 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Climb Global Solutions in the 4th quarter worth $476,000. Finally, Wells Fargo & Company MN boosted its position in shares of Climb Global Solutions by 57.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,040 shares of the company's stock worth $259,000 after purchasing an additional 745 shares in the last quarter. Institutional investors and hedge funds 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.