UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G - AMENDMENT NO.1
(Name of Issuer)
Aceto Corp
(Title of Class of Securities)
Common Stock
(CUSIP Number)
004446100
NAME OF REPORTING PERSON
Private Capital Management, Inc.
I.R.S. IDENTIFICATION NO.
59-2756929
MEMBER OF A GROUP?
(b) X
PLACE OF ORGANIZATION
Florida
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
SOLE VOTING POWER 0
SHARED VOTING POWER 520400 0
SOLE DISPOSITIVE POWER 0
SHARED DISPOSITIVE POWER 520400
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
520400
PERCENT OF CLASS REPRESENTED BY AGGREGATE AMOUNT BENEFICIALLY
OWNED
8.5%
TYPE OF REPORTING PERSON
IA
NAME OF REPORTING PERSON
SPS Partners, L.P.
I.R.S. IDENTIFICATION NO.
65-0496234
MEMBER OF A GROUP?
(b) X
PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
SOLE VOTING POWER 0
SHARED VOTING POWER 169775
SOLE DISPOSITIVE POWER 0
SHARED DISPOSITIVE POWER 169775
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
169775
PERCENT OF CLASS REPRESENTED BY AGGREGATE AMOUNT BENEFICIALLY
OWNED
2.8%
TYPE OF REPORTING PERSON
IA
NAME OF REPORTING PERSON
Bruce S. Sherman
I.R.S. IDENTIFICATION NO.
###-##-####
MEMBER OF A GROUP?
(b) X
CITIZENSHIP
U.S. Citizen
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
SOLE VOTING POWER 900
SHARED VOTING POWER 690175
SOLE DISPOSITIVE POWER 900
SHARED DISPOSITIVE POWER 690175
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
691075
AGGREGATE AMOUNT BENEFICIALLY OWNED EXCLUDES CERTAIN SHARES
(yes)
PERCENT OF CLASS REPRESENTED BY AGGREGATE AMOUNT BENEFICIALLY
OWNED
11.2%
TYPE OF REPORTING PERSON
IN
NAME OF REPORTING PERSON
Gregg J. Powers
I.R.S. IDENTIFICATION NO.
###-##-####
MEMBER OF A GROUP?
(b) X
CITIZENSHIP
U.S. Citizen
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
SOLE VOTING POWER 0
SHARED VOTING POWER 690175
SOLE DISPOSITIVE POWER 0
SHARED DISPOSITIVE POWER 690175
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
690175
AGGREGATE AMOUNT BENEFICIALLY OWNED EXCLUDES CERTAIN SHARES
(yes)
PERCENT OF CLASS REPRESENTED BY AGGREGATE AMOUNT BENEFICIALLY
OWNED
11.2%
TYPE OF REPORTING PERSON
IN
ITEMS 1 - 10 OF GENERAL INSTRUCTIONS
Item 1.
(a)Name of Issuer: Aceto Corp
(b)Address of Issuer: One Hollow Lane, Lake Success, NY 11042
Item 2.
(a)Name of Person Filing: See Exhibit 1
(b)Address of Person Filing:3003 Tamiami Trail N., Naples, FL 34103
(c)Citizenship: See Exhibit 1
(d)Title of Class of Securities: Common Stock
(e)CUSIP Number: 004446100
Item 3.
The reporting person is filing as an Investment Adviser registered
under section 203 of the Investment Advisers Act of 1940.
Item 4. Ownership
(a)Amount Beneficially Owned: See Exhibit 1
(b)Percent of Class: See Exhibit 1
(c)Number of Shares as to which such person has:
(i)sole power to vote or to direct the vote:
See Exhibit 1
(ii)shared power to vote or to direct the vote:
See Exhibit 1
(iii)sole power to dispose or to direct the disposition of:
See Exhibit 1
(iv)shared power to dispose or to direct the disposition of:
See Exhibit 1
Item 5. Ownership of Five Percent or Less of Class:
N/A
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:
See Exhibit 1
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: See Exhibit 2
Signature: See Exhibit 2
Name/Title: See Exhibit 2
Exhibit 1
Item 2.
(a) Name of Person Filing
1) Private Capital Management, Inc.
2) SPS Partners, L.P.
3) Bruce S. Sherman
4) Gregg J. Powers
(c)Citizenship
1) Florida
2) Delaware
3) U.S.
4) U.S.
Item 4.
(a) Amount Beneficially Owned
1) 520400
2) 169775
3) 691075
4) 690175
(b) Percent of Class
1) 8.5%
2) 2.8%
3) 11.2%
4) 11.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
1) 0
2) 0
3) 900
4) 0
(ii) shared power to vote or to direct the vote
1) 520400
2) 169775
3) 690175
4) 690175
(iii) sole power to dispose or to direct the disposition of
1) 0
2) 0
3) 900
4) 0
(iv) shared power to dispose or to direct the disposition of
1) 520400
2) 169775
3) 690175
4) 690175
*Bruce S. Sherman is Chairman of Private Capital Management, Inc.
("PCM") and Mr. Powers is President of PCM. In these capacities,
Messrs. Sherman and Powers both exercise shared dispositive and
shared voting power with respect to shares held by PCM's clients and
managed by PCM. Messrs. Sherman and Powers are also general partners
of SPS Partners, L.P. ("SPS"), which is engaged as the investment
adviser to the Entrepreneurial Value Fund, L.P. ("EVF"). In this
capacity, Messrs. Sherman and Powers both exercise shared dispositive
and shared voting power with respect to those shares held by EVF and
managed by SPS. Messrs. Sherman and Powers disclaim beneficial
ownership for the shares held by EVf and by PCM's clients and disclaim
the existence of a group.
Exhibit 2
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: June 12, 2000
_________________________
Bruce S. Sherman
Chairman of Private Capital Management, Inc.
_________________________
Gregg J. Powers
President of Private Capital Management, Inc.
_________________________
Bruce S. Sherman
Individually
