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Altair Engineering Inc. (NASDAQ:ALTR), a $9.57 billion software company whose shares have surged 38% over the past year, recently saw its Chief Accounting Officer, Gayle Brian, execute a stock transaction as reported in a Form 4 filing with the Securities and Exchange Commission. On March 17, Brian sold 182 shares of the company’s Class A Common Stock at a price of $111.30 per share, amounting to a total transaction value of $20,256.
The sale was conducted to satisfy tax withholding obligations related to the vesting of restricted stock units. Following the transaction, Brian holds 18,008 shares, which include 4,507 unvested restricted stock units. According to InvestingPro analysis, ALTR currently trades near its 52-week high of $113.12 and appears overvalued based on its Fair Value metrics. For comprehensive insights and detailed valuation analysis, explore ALTR’s Pro Research Report, one of 1,400+ deep-dive company analyses available on InvestingPro.
In other recent news, Altria Group (NYSE:MO) reported significant financial growth in the third quarter of 2024. The company achieved a 19% increase in revenues compared to the previous year, alongside a remarkable 244% rise in EBITDA. Additionally, Altria Group managed to reduce its net debt by 23%, indicating improved financial leverage. The company did not provide specific earnings per share forecasts, but its financial health appears to be strengthening. Analysts have noted that Altria Group is focusing on strategic growth projects and operational optimization, which includes the ongoing conversion of the Biotech mill to dissolving wood pulp. The company has also been recognized for its environmental efforts, ranking number one globally among 58 companies in the paper and pulp sub-industry according to Stenalytics’ ESG risk rating. Furthermore, Altria Group’s CEO, Jose Pina, expressed confidence in the company’s strategic direction, highlighting a positive outlook for the 2025-2028 period with anticipated demand stabilization and market recovery. Despite these advancements, the company faces potential challenges, such as market demand fluctuations and operational risks, including an incident with a core generation turbine that could impact fourth-quarter results.
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