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Raoul Maitra, the Chief Legal Officer of Altair Engineering Inc. (NASDAQ:ALTR), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Maitra sold 188 shares of Class A Common Stock on February 26 at an average price of $111.53 per share, totaling $20,967. The stock currently trades near $111.66, close to its 52-week high of $113.12, having gained nearly 32% over the past year. This transaction was made to satisfy tax withholding obligations related to the vesting of restricted stock units.
Following this sale, Maitra retains ownership of 31,755 shares, which includes 12,529 unvested restricted stock units. Altair Engineering, based in Troy, Michigan, is a provider of software and cloud solutions for product development, high-performance computing, and data analytics.
In other recent news, Altria Group (NYSE:MO) reported a strong financial performance for the third quarter of 2024, showcasing a 19% increase in revenues compared to the same period last year. The company’s EBITDA surged by 244%, reflecting robust operational efficiency and strategic initiatives. Altria also achieved a 23% reduction in net debt during the quarter, which further strengthens its financial position. The company is optimistic about demand stabilization and market recovery for the 2025-2028 period, with ongoing projects like the Biotech mill conversion expected to drive future growth. Additionally, Altria’s strategic focus includes the Kaima project for acetic acid and furfural production. Analysts have taken note of these developments, with GB Capital and Caixa Bank engaging in discussions about the company’s tax reimbursements and CapEx expectations. Altria’s commitment to sustainability was recognized as it ranked number one globally among 58 companies in the paper and pulp sub-industry by Sustainalytics. The company continues to work on the Gamma project, with progress on obtaining the necessary environmental licenses.
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