Schedule 13 G
Item 1 (a) Hi Shear Industries, Inc.
(b) 3333 New Hyde Park Road
North Hills, NY 11042
Item 2 (a) Corbyn Investment Management, Inc., et al.
(b) Suite 108
2330 W. Joppa Road
Lutherville, Maryland 21093
(c) Incorporated in the State of Maryland
(d) Common Stock
(e) 428399109
Item 3 (h) The filer is a group consisting of an Investment Adviser
registered under Section 203 of the Investment Advisers Act of 1940 and an
Investment Company registered under Section 8 of the Investment Company
Act.
Item 4 (a) 1,124,200
(b) 19.2%
(c) (i) Sole power to vote or direct the vote of all 1,124,200 shares
(iii) Sole power to dispose of or direct the disposition of all 1,124,200
shares
Item 5 N/A
Item 6 N/A
Item 7 N/A
Item 8 (a) The group consists of an Investment Adviser registered under
Section 203 of the Investment Advisers Act of 1940 (IA) and an Investment
Company registered under Section 8 of the Investment Company Act (IV).
Item 9 N/A
Schedule 13 G
Item 1 (a) Hi Shear Industries, Inc.
(b) 3333 New Hyde Park Road
North Hills, NY 11042
Item 2 (a) Corbyn Investment Management, Inc.
(b) Suite 108
2330 W. Joppa Road
Lutherville, Maryland 21093
(c) Incorporated in the State of Maryland
(d) Common Stock
(e) 428399109
Item 3 (e) The filer is an Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940.
Item 4 (a) 542,750
(b) 9.3%
(c) (i) Sole power to vote or direct the vote of all 542,750 shares
(iii) Sole power to dispose of or direct the disposition of all 542,750
shares
Item 5 N/A
Item 6 N/A
Item 7 N/A
Item 8 N/A
Item 9 N/A
Schedule 13 G
Item 1 (a) Hi Shear Industries, Inc.
(b) 3333 New Hyde Park Road
North Hills, NY 11042
Item 2 (a) Greenspring Fund, Inc.
(b) Suite 110
2330 W. Joppa Road
Lutherville, Maryland 21093
(c) Incorporated in the State of Maryland
(d) Common Stock
(e) 428399109
Item 3 (d) The filer is an Investment Company registered under Section
8 of the Investment Company Act.
Item 4 (a) 581,450
(b) 9.9%
(c) (i) Sole power to vote or direct the vote of all 581,450 shares
(iii) Sole power to dispose of or direct the disposition of all 581,450
shares
Item 5 N/A
Item 6 N/A
Item 7 N/A
Item 8 N/A
Item 9 N/A
Item 10 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.
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.
January 8, 1998
Signature
Charles vK. Carlson, President
Name/Title
<PAGE>
CUSIP No. 428399109 13G
1. Name of Reporting Person
SS Identification No. of Above Person
Corbyn Investment Management, Inc. et al
n/a
2. Check The Appropriate Box If A Member Of A Control Group (a) [x]
(b) [ ]
3. SEC Use Only
4. Citizenship or Place of Organization
Suite 108 2330 W. Joppa Rd.
Lutherville, MD 21093
Number Of 5. Sole Voting Power
Shares 1,124,200
Beneficially 6. Shared Voting Power
Owned By
Each 7. Sole Dispositive Power
Reporting 1,124,200
Person With 8. Shared Dispositive Power
9. Aggregate Amount Beneficially Owned By Each Reporting Person
1,124,200
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11. Percent Of Class Represented By Amount In Row 9
19.2%
12. Type Of Reporting Person
00- Group Consisting of IA and IV
CUSIP No. 428399109 13G
1. Name of Reporting Person
SS Identification No. of Above Person
Corbyn Investment Management, Inc.
52-0964322
2. Check The Appropriate Box If A Member Of A Control Group (a) [x]
(b) [ ]
3. SEC Use Only
4. Citizenship or Place of Organization
Suite 108 2330 W. Joppa Rd.
Lutherville, MD 21093
Number Of 5. Sole Voting Power
Shares 542,750
Beneficially 6. Shared Voting Power
Owned By
Each 7. Sole Dispositive Power
Reporting 542,750
Person With 8. Shared Dispositive Power
9. Aggregate Amount Beneficially Owned By Each Reporting Person
542,750
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11. Percent Of Class Represented By Amount In Row 9
9.3%
12. Type Of Reporting Person
IA
CUSIP No. 428399109 13G
1. Name of Reporting Person
SS Identification No. of Above Person
Greenspring Fund, Inc.
52-1267740
2. Check The Appropriate Box If A Member Of A Control Group (a) [x]
(b) [ ]
3. SEC Use Only
4. Citizenship or Place of Organization
Suite 110 2330 W. Joppa Rd.
Lutherville, MD 21093
Number Of 5. Sole Voting Power
Shares 581,450
Beneficially 6. Shared Voting Power
Owned By
Each 7. Sole Dispositive Power
Reporting 581,450
Person With 8. Shared Dispositive Power
9. Aggregate Amount Beneficially Owned By Each Reporting Person
581,450
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares [ ]
11. Percent Of Class Represented By Amount In Row 9
9.9%
12. Type Of Reporting Person
IV
