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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2

(Amendment No. 2)*

Material Sciences Corporation
(Name of Issuer)
Common Stock, par value $.02 per share
(Title of Class of Securities)
576674105
(CUSIP Number)
July 26, 2010
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* 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).

 
 

 

Schedule 13G   Page 2 of 6 Pages
     
CUSIP NO. 576674105    

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. Identification Nos. of above persons (entities only)

Henry Partners, L.P. 23-2888396
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  5   SOLE VOTING POWER
     
NUMBER OF   *
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   *
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   *
       
WITH 8   SHARED DISPOSITIVE POWER
     
    *
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  *
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)*
   
  *
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN
*      NOTE: Reporting Persons own less than 5% of the Issuer’s outstanding common stock.

 

Schedule 13G   Page 3 of 6 Pages
     
CUSIP NO. 576674105    

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. Identification Nos. of above persons (entities only)

Matthew Partners, L.P. 23-3063303
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  5   SOLE VOTING POWER
     
NUMBER OF   *
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   *
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   *
       
WITH 8   SHARED DISPOSITIVE POWER
     
    *
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  *
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)*
   
  *
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN
*      NOTE: Reporting Persons own less than 5% of the Issuer’s outstanding common stock.

 

Schedule 13G   Page 4 of 6 Pages
     
CUSIP NO. 576674105    

 

           
1   NAMES OF REPORTING PERSONS
I.R.S. Identification Nos. of above persons (entities only)

Henry Investment Trust, L.P. 23-2887157
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Pennsylvania
       
  5   SOLE VOTING POWER
     
NUMBER OF   *
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   *
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   *
       
WITH 8   SHARED DISPOSITIVE POWER
     
    *
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
   
  *
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  *
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN
*      NOTE: Reporting Persons own less than 5% of the Issuer’s outstanding common stock.

 

Schedule 13G   Page 5 of 6 Pages
     
CUSIP NO. 576674105    
     
Item 1.(a)
  Name of Issuer:
 
    
 
  Material Sciences Corporation
 
    
Item 1.(b)
  Address of Issuer’s Principal Executive Offices:
 
    
 
  2200 East Pratt Boulevard
 
  Elk Grove Village, Illinois 60007
 
    
Item 2.
  Ownership of Five Percent or Less of a Class.
 
    
 
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. þ

 

 

Schedule 13G   Page 6 of 6 Pages
     
CUSIP NO. 576674105    
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.
         
  HENRY PARTNERS, L.P. by its General Partner,
HENRY INVESTMENT TRUST, L.P., by its
General Partner, CANINE PARTNERS, LLC
 		  
Date:July 29, 2010  By:   /s/ David W. Wright    
    David W. Wright,   
    President   
 
         
  MATTHEW PARTNERS, L.P. by its General Partner,
HENRY INVESTMENT TRUST, L.P., by its
General Partner, CANINE PARTNERS, LLC
 		  
Date: July 29, 2010  By:   /s/ David W. Wright    
    David W. Wright,   
    President   
 
         
  HENRY INVESTMENT TRUST, L.P., by its
General Partner, CANINE PARTNERS, LLC
 		  
Date: July 29, 2010  By:   /s/ David W. Wright    
    David W. Wright,   
    President