BARNES- B : AN AEROSPACE GIANT THAT HAS A LOT OF POTENTIAL Message Board

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Strategies & Market Trends : BARNES- B : AN AEROSPACE GIANT THAT HAS A LOT OF POTENTIAL

B 40.93

+2.2%

3:59 PM EST

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To: stockvalinvestor who wrote ()	3/12/1997 10:34:00 PM
From: Market Tracker	of 87

Kenneth, I am a shareholder of Barnes Group and have been following the stock for about a year. The company will repurchase up to 500,000 shares of pre-split shares. The number of shares outstanding on 2/4/97 was 6,669,471 so if the company repurchases the maximun number of shares it will put shs. out. at around 6,160,000 (pre-split). At the annual shareholder's meeting on 4/2 in Hartford, CT the company will increase the authorized shares to 20,000,000 to effect the recently announced 3-for-1 stock split. Following the 3-for-1 split the board will recommend an increase in the common dividend to $0.67 cents/ year or $2.00 per sahre on the pre-split shares. Some comments from management re:1997, BOWMAN DISTRIBUTORS - "solid profit gains for 1997". ASSOCIATED SPRING - "higher sales and profits". BARNES AEROSPACE - "good sales growth and improvements in productivity should have a positive impact on profits". "we expect our strong earnings stream to continue in 1997". "Providing there are no significant downturns in our key markets, we look for another year of record profits and sales". I believe any earnings estimates you see do NOT reflect any of the up to 500,000 shares in the repurchase program. In my opinion Barnes could under the right conditions earn up to $6.00 a share for 1997 (pre-split) and at a 14 0r 15 multiple couls easily sell for between 84 - 90. This little gem has yet to really be discovered, although there is some institutional interest. Will be back to this thread in the future. Respectfully, Gary

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