Impax Asset Management Group (LON:IPX) Trading Down 19.2% After Analyst Downgrade

Impax Asset Management Group Plc (LON:IPX) was down 19.2% on Friday after Berenberg Bank lowered their price target on the stock from GBX 560 to GBX 510. Berenberg Bank currently has a buy rating on the stock. Impax Asset Management Group traded as low as GBX 256 ($3.23) and last traded at GBX 264.50 ($3.34). Approximately 1,409,562 shares were traded during mid-day trading, an increase of 357% from the average daily volume of 308,130 shares. The stock had previously closed at GBX 327.50 ($4.13).

Impax Asset Management Group Price Performance

The firm has a market cap of £322.46 million, a P/E ratio of 812.90, 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. The firm’s 50 day moving average is GBX 352.46 and its 200 day moving average is GBX 377.96.

Impax Asset Management Group Increases Dividend

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

About Impax Asset Management Group

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.