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Matthew Charles Brown, Chief Financial Officer of Altair Engineering Inc. (NASDAQ:ALTR), has recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Brown sold 742 shares of Class A Common Stock at a price of $111.45 per share, amounting to a total transaction value of $82,695. The transaction occurs as Altair, currently valued at $9.6 billion, trades near its 52-week high of $113.12. InvestingPro analysis indicates the stock appears overvalued based on its Fair Value metrics.
The shares sold were used to satisfy tax withholding obligations related to the vesting of restricted stock units. Following this transaction, Brown retains ownership of 68,652 shares, which includes 41,612 unvested restricted stock units. The company has demonstrated strong momentum, with a 36.6% return over the past year and maintains a GOOD financial health rating according to InvestingPro’s comprehensive analysis.
This transaction provides insight into the executive’s current shareholding situation and the company’s compensation practices. For deeper analysis of Altair’s financial health, valuation metrics, and executive compensation practices, investors can access the detailed Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.
In other recent news, Altria Group (NYSE:MO) reported strong financial results for Q3 2024, with a 19% increase in revenues compared to the previous year and a significant rise in EBITDA by 244%. The company also achieved a notable 23% reduction in net debt during the quarter, enhancing its financial leverage. Altria’s strategic focus on product innovation and operational efficiency appears to be paying off, as indicated by these financial metrics. The company maintains a positive outlook for the 2025-2028 period, with expectations of demand stabilization and market recovery. Additionally, Altria is progressing with its growth projects, including the conversion of the Biotech mill to dissolving wood pulp and the Kaima project for acetic acid and furfural. Analysts from GB Capital and Caixa Bank inquired about the company’s cash costs and capital expenditures, with management indicating stable cash costs and ongoing investments. Lastly, Altria was ranked number one in the world among 58 companies in the paper and pulp sub-industry in the ESG risk rating of 2024 by Sustainalytics.
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