SEC Form SC 13G/A filed

3/4/21 4:27:47 PM ET

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SC 13G/A 1 mags13g22821.txt GRACE & WHITE, INC 2/28/21 MAGS 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G/A 2/28/21 Under the Securities Exchange Act of 1934 (Amendment No. 14) MAGAL SECURITY SYSTEMS LTD. (Name of Issuer) Ordinary Shares, NIS 1.0 Par Value (Title of Class of Securities) M6786D104 (CUSIP Number) Check the following box if a fee is being paid with this statement [ ]. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7). *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 pages - - -------------------------------------------- CUSIP NO. M6786D104 13G/A PAGE 2 OF 5 PAGES - - ----------------------- - -------------------- - - ---------------------------------------------------------- - -------------------- NAME OF REPORTING PERSON 1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON GRACE & WHITE, INC. #13-2884675 - - ---------------------------------------------------------- - -------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [_] - - ---------------------------------------------------------- - -------------------- SEC USE ONLY 3 - - ---------------------------------------------------------- - -------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 NEW YORK, U.S.A. - - ---------------------------------------------------------- - -------------------- SOLE VOTING POWER 5 NUMBER OF 186,880 SHARES ----------------------------------------- - ------------------ SHARED VOTING POWER BENEFICIALLY 6 OWNED BY NONE ----------------------------------------- - ------------------ EACH SOLE DISPOSITIVE POWER 7 REPORTING 1,141,243 PERSON ----------------------------------------- - ------------------ SHARED DISPOSITIVE POWER WITH 8 NONE - - ---------------------------------------------------------- - -------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 1,141,243 - - ---------------------------------------------------------- - -------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 [_] - - ---------------------------------------------------------- - -------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 4.93% - - ---------------------------------------------------------- - -------------------- TYPE OF REPORTING PERSON* 12 IA. - - -------------- CUSIP NUMBER ----------------------------------------------- - ----------------- M6786D104 Page 3 Of 5 Pages Item 1. (a) Name of Issuer: MAGAL SECURITY SYSTEMS LTD. -------------- (b) Address of Issuer's Principal Executive Offices: ----------------------------------------------- P.O BOX 70, Industrial Zone Yehud,Israel 5610001 Item 2. (a) Name of Person Filing: Grace & White, Inc. --------------------- (b) Address of Principal Business Office: ------------------------------------ Grace & White, Inc. 515 Madison Ave., Suite 1700 New York, New York 10022 (c) Citizenship: New York Corporation ----------- (d) Title of Class of Securities: Ordinary Shares, NIS 1.0 Par Value ---------------------------- (e) CUSIP Number: M6786D104 ------------ Item 3. If this statement is filed pursuant to Rule 13d- 1(b), --------------------------------------------------- - - or 13d-2(b), check whether the person filing is a: --------------------------------------------------- (e) X Investment adviser registered under Section 203 of --- the Investment Advisers Act of 1940. Item 4. Ownership. --------- (a) Amount beneficially owned: -------------------------- The shares of Common Stock beneficially owned by Grace & White, Inc. by this Schedule amount to 1,141,243 shares. (b) Percent of Class: ----------------- 4.93% (c) For information on voting and dispositive power with above listed shares, see Items 5-8 of the Cover Page. Item 5. Ownership of Five Percent or Less of a Class. -------------------------------------------- This statement is being filed to report the fact that as of February 28,2021 Grace & White, Inc. has ceased to be the beneficial owner of more than five percent of the common stock. Item 6. Ownership of more than Five Percent on Behalf of Another Person ---------------------------------------------------- N/A Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. ------------------------------------------------------- N/A. Item 8. Identification and Classification of Members of the Group. ---------------------------------------------------- N/A Item 9. Notice of Dissolution of Group. ------------------------------ N/A. Item 10. Certification. ------------- By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. DATE: March 4, 2021 Grace & White, Inc. By:/s/ MARC E. RAVITZ ----------------- Marc E. Ravitz, CFA Executive Vice President

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SEC Form SC 13G/A filed

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