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

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

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

Analysts Set New Price Targets

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

Climb Global Solutions Price Performance

The stock has a market cap of $461.83 million, a P/E ratio of 27.15, a P/E/G ratio of 2.93 and a beta of 1.06. The company’s 50 day moving average price is $98.20 and its 200-day moving average price is $75.90. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in CLMB. Vanguard Group Inc. raised its holdings in Climb Global Solutions by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock worth $15,871,000 after purchasing an additional 7,447 shares during the last quarter. Choreo LLC acquired a new position in Climb Global Solutions in the second quarter valued at $4,491,000. SG Americas Securities LLC bought a new stake in Climb Global Solutions during the third quarter valued at $159,000. Lazard Asset Management LLC grew its holdings 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 worth $207,000 after acquiring an additional 1,319 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Climb Global Solutions by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,954 shares of the company’s stock worth $2,510,000 after acquiring an additional 919 shares in the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

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.