Change in Directors or Principal Officers
Item 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On June 22, 2015, Robert L. Mahoney resigned as an officer and employee of Northwest Pipe Company, effective immediately. Mr. Mahoney had served as Northwest Pipe Company's Senior Vice President, Strategy and Business Development.
Relatively new to the stock too. Seems like the company should be well positioned to capitalize on the badly needed infrastructure build out across the country, but I am uncertain about management's capabilities. I'm watching to see which of the "wide range of strategic opportunities" they pursue as highlighted in their 2105 Shareholder Meeting last week. Now's the time to take some action...
Stay patient with VA. I made a planeload of money buying HA at $6/$7 when it was hated a couple of years ago and WAY undervalued relative to the industry. VA is in the same position now (including topping the service rating charts) - EXCEPT that now VA has the added benefit of an incredible airline market - growing employment and CHEAP oil for the foreseeable future. VA will pay off nicely over the next couple of years...patience...
I believe the Annual Meeting is tomorrow. I'd like to hear something come out of it...like a share repurchase program to pick up these shares at a substantial discount to tangible book. Management needs to get something going...
meant "can not use shares for any acquistions" (at this valuation).
Could easily be taken private in the high $30's/ low $40's for a strong win-win
Seems like someone should take this company private given NWPX's current valuation. There is not enough float or market cap to really support a share buy back program - though that's a possibility. They also can use shares for any acquisitions themselves. Someone will take advantage of this situation...
As Warren Buffett likes to say...it's a good opportunity to buy a great company at "sale" prices.
Bought some today, and will continue if the price drops further.
Great quarter...great product!
There is no recovery of their business short of a buyout
Should move nicely from here.
...since we seem to be bringing up irrelevant valuation points...I thought I'd throw one in the mix
In an environment where it seems almost certain that interest rates are going to rise, I would expect a couple of large regionals like RF to get bought by a PNC or JPM...we'll see...in any event the valuations of these regionals are going to rise rapidly in 2015.
Sentiment: Strong Buy
Sadly, in the next 2-3 quarters the company is going to have to do another financing...too bad they couldn't get financial help with the upcoming trials. The winners in ADXS won't be known for several years, and I don't think any current shareholders will be among them. There really doesn't seem to be another way around additional dilution (heavy).
Earnings per share: $2.26 for yr ended June 2014 vs $2.20 in 2013 (almost no growth)
PE = 23x (why?)
Book Value: $63 million at June 2014 vs. $149 million at June 2013
Tangible BV: -$89 million at June 2014 vs. -$3 million at June 2013
Market Cap = $3.3 billion (why?)
Expected free cash flow $180 - $190. (again how does this justify $3.3 billion market cap?)
Answer: Company keeps the market cap inflated by borrowing money to pay dividends and buy back stock. Not a good business model. The big boys won't hold forever.
Sentiment: Strong Sell