Climb Global Solutions (NASDAQ:CLMB) Hits New 52-Week High Following Dividend Announcement

Climb Global Solutions, Inc. (NASDAQ:CLMB) shares reached a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $117.64 and last traded at $117.64, with a volume of 1282 shares traded. The stock had previously closed at $105.58.

The newly announced dividend which will be paid on Friday, November 15th. Shareholders of record on Monday, November 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, November 8th. Climb Global Solutions’s payout ratio is currently 18.43%.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Climb Global Solutions in a research report on Thursday, October 10th.

Climb Global Solutions Stock Performance

The company has a 50-day simple moving average of $98.20 and a two-hundred day simple moving average of $75.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 1.10. The firm has a market capitalization of $461.83 million, a P/E ratio of 27.15, a PEG ratio of 2.93 and a beta of 1.06.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.35. The company had revenue of $92.08 million for the quarter, compared to analyst estimates of $97.27 million. Climb Global Solutions had a return on equity of 24.44% and a net margin of 4.11%. As a group, equities analysts forecast that Climb Global Solutions, Inc. will post 3.28 EPS for the current year.

Institutional Trading of Climb Global Solutions

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Climb Global Solutions by 3.4% during the first quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock worth $15,871,000 after acquiring an additional 7,447 shares in the last quarter. Choreo LLC purchased a new stake in shares of Climb Global Solutions in the 2nd quarter worth approximately $4,491,000. SG Americas Securities LLC purchased a new stake in shares of Climb Global Solutions in the 3rd quarter worth approximately $159,000. Lazard Asset Management LLC increased its position in Climb Global Solutions by 82.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,925 shares of the company’s stock valued at $207,000 after buying an additional 1,319 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Climb Global Solutions by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 39,954 shares of the company’s stock valued at $2,510,000 after buying an additional 919 shares during the last quarter. Institutional investors own 49.72% of the company’s stock.

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.