Impax Asset Management Group (LON:IPX) Shares Down 19.2% – Here’s Why

Impax Asset Management Group Plc (LON:IPX) shares traded down 19.2% on Friday . The company traded as low as GBX 256 ($3.25) and last traded at GBX 264.50 ($3.35). 1,409,562 shares changed hands during trading, an increase of 357% from the average session volume of 308,130 shares. The stock had previously closed at GBX 327.50 ($4.15).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank cut their target price on Impax Asset Management Group from GBX 620 ($7.86) to GBX 560 ($7.10) and set a “buy” rating on the stock in a research note on Tuesday, October 8th.

Impax Asset Management Group Stock Performance

The company has a fifty day moving average price of GBX 354.85 and a two-hundred day moving average price of GBX 379.80. The firm has a market cap of £316.62 million, a price-to-earnings ratio of 1,056.45, a price-to-earnings-growth ratio of 5.05 and a beta of 1.64. The company has a debt-to-equity ratio of 6.93, a current ratio of 3.59 and a quick ratio of 2.26.

Impax Asset Management Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be given a dividend of GBX 22.90 ($0.29) per share. The ex-dividend date is Thursday, February 20th. This is a positive change from Impax Asset Management Group’s previous dividend of $4.70. This represents a dividend yield of 7.12%. Impax Asset Management Group’s payout ratio is 9,032.26%.

Impax Asset Management Group Company Profile

Impax Asset Management Group plc is a publicly owned investment manager. Through its subsidiaries, it provides investment services to funds specializing in the environmental markets sector, with a focus on alternative energy, water, and waste sectors, primarily in the United Kingdom. It manages a range of funds and segregated accounts on behalf of institutional and private investors.