Strs Ohio Purchases New Shares in Climb Global Solutions, Inc. $CLMB

Key Points

• Strs Ohio acquired a new stake in Climb Global Solutions, Inc. by purchasing 4,700 shares valued at approximately $521,000, representing 0.10% of the company at the end of the last quarter.
• In addition to Strs Ohio, several other hedge funds increased their positions in Climb Global Solutions, including Ameriprise Financial, which raised its stake by 81.5% during the same period.
• Climb Global Solutions recently announced a quarterly dividend of $0.17 per share, reflecting an annualized payout of $0.68 and a dividend yield of 0.5%.

Strs Ohio acquired a new stake in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,700 shares of the company's stock, valued at approximately $521,000. Strs Ohio owned 0.10% of Climb Global Solutions at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CLMB. State of Wyoming purchased a new stake in Climb Global Solutions in the fourth quarter valued at approximately $64,000. Banque Transatlantique SA purchased a new stake in Climb Global Solutions in the first quarter valued at approximately $60,000. AlphaQuest LLC purchased a new stake in Climb Global Solutions in the first quarter valued at approximately $78,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Climb Global Solutions by 61.1% during the first quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company's stock worth $169,000 after acquiring an additional 580 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Climb Global Solutions during the first quarter worth approximately $202,000. 49.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research reissued an "outperform" rating and set a $136.00 price target on shares of Climb Global Solutions in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $136.00.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB traded up $3.90 during mid-day trading on Monday, hitting $136.07. The stock had a trading volume of 41,404 shares, compared to its average volume of 32,708. Climb Global Solutions, Inc. has a 1 year low of $88.90 and a 1 year high of $144.99. The business has a 50 day moving average price of $117.95 and a two-hundred day moving average price of $111.21. The firm has a market cap of $628.64 million, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%. The company had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million. Equities research analysts predict that Climb Global Solutions, Inc. will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 11th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Climb Global Solutions's payout ratio is presently 14.11%.

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.