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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Cabot Corp.
(Name of Issuer)
Common
(Title of Class of Securities)
127055101
(CUSIP Number)
December 31, 1998
(Date of Event Which Requires Filing of the Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1 (b)
[ ] Rule 13d-1 (c)
[ ] 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).
CUSIP No. 127055101 13G Page 2 of 5 Pages
1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Neuberger Berman, LLC
13-5521910
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /__/
(b) /X/
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER
43,356
6) SHARED VOTING POWER
4,360,600
7) SOLE DISPOSITIVE POWER
0
8) SHARED DISPOSITIVE POWER
4,403,956
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,403,956
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
5,000
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.49
12) TYPE OF REPORTING PERSON*
BD/IA
CUSIP No. 127055101 13G Page 2A of 5
Pages
1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Neuberger Berman Guardian Portfolio
13-3697434
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /__/
(b) /X/
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER
0
6) SHARED VOTING POWER
3,841,000
7) SOLE DISPOSITIVE POWER
0
8) SHARED DISPOSITIVE POWER
3,841,000
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,841,000
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.66
12) TYPE OF REPORTING PERSON*
IV
CUSIP No. 127055101 13G Page 3 of 5 Pages
Item 1. (a) Name of Issuer:
Cabot Corp.
Item 1 (b) Address of Issuer's Principal Executive Offices:
75 State Street, Boston, MA 02109
Item 2. (a) Name of Person Filing:
Neuberger Berman, LLC
Neuberger Berman Management Inc.
Neuberger Berman Guardian Portfolio
Item 2 (b) Address of Principal Business Office:
605 Third Ave., New York, NY, 10158-3698
Item 2 (c) Citizenship:
USA
Item 2 (d) Title of Class of Securities:
Common
Item 2 (e) CUSIP Number:
127055101
Item 3. (a) /X/ Broker or Dealer registered under Section 15 of the
Act
Item 3 (b) /X/ Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940
Item 3 (c) /X/ Investment Company registered under Section 8 of the
Investment Company Act
Item 4. Ownership:
(a) Amount Beneficially Owned:
4,403,956
(b) Percent of Class:
6.49
CUSIP No. 127055101 13G Page 4 of 5 Pages
(c) Number of Shares as to which such person has:
(I) Sole Power to vote or to direct the
vote: 43,356
(II) Shared Power to vote or to direct the
vote: 4,360,600
(III) Sole Power to dispose or to direct the disposition
of: 0
(IV) Shared Power to dispose or to direct the disposition
of: 4,403,956
Item 5. Ownership of Five Percent or Less of a Class:
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another:
Neuberger Berman, LLC is deemed to be a beneficial owner for purpose of
Rule 13(d) since it has shared power to make decisions whether to retain or
dispose of, and in some cases the sole power to vote the securities of many
unrelated clients. Neuberger Berman, LLC does not, however, have any
economic interest in the securities of those clients. The clients are the
actual owners of the securities and have the sole right to receive and the
power to direct the receipt of dividends from or proceeds from the sale of
such securities.
Principal(s) of Neuberger Berman, LLC own 5,000 shares. Principal(s) own
these shares in their own personal securities accounts. Neuberger Berman,
LLC disclaims beneficial ownership of these shares since; these shares were
purchased with each principal(s)' personal funds and each principal has
exclusive dispositive and voting power over the shares held in their
respective
accounts.
With regard to the shares set forth under Item 4.(c)(II), 3,841,000 shares
or 5.66% of the outstanding are beneficially owned by Neuberger Berman
Guardian Portfolio, a series of Equity Managers Trust. Neuberger Berman,
LLC and Neuberger Berman Management Inc. are deemed to be beneficial owners
of these shares for purposes of Rule 13(d) since they both have shared
power to make decisions whether to retain or dispose of the securities.
Neuberger Berman, LLC and Neuberger Berman Management Inc. serve as sub-
adviser and investment manager, respectively, of Neuberger Berman Guardian
Portfolio, which holds such shares in the ordinary course of its business
and not with the purpose nor with the effect of changing or influencing the
control of the issuer.
With regard to the balance of the shares set forth under Item 4.(c)(II),
Neuberger Berman, LLC and Neuberger Berman Management Inc. are deemed to be
the beneficial owners for the purposes of Rule 13(d), since they have power
to make decisions whether to retain or dispose of securities held by
Neuberger Berman's various other Funds. Neuberger Berman, LLC is the sub-
advisor to the aforementioned Funds.
No other Neuberger Berman, LLC advisory client has an interest of more than
5% of the issuer.
It should be further noted that the share calculation under item 4.(c)(IV)
is derived from a total combination of the shares set forth under Item
4.(c)(I and II). The remaining balance of shares, if any, are for
individual client accounts over which Neuberger Berman, LLC has shared
power to dispose.
CUSIP No. 127055101 13G Page 5 of 5 Pages
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 and are held in the ordinary
course of business and were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in connection with
or as a participant in any transaction having that purpose 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.
In addition, the undersigned hereby agree that the Schedule 13G filed
herewith is filed jointly pursuant to Rule 13d-1(f)(1) of the Securities
Exchange Act of 1934, as amended, on behalf of each of them.
Date: February 5, 1999
Neuberger Berman, LLC
By:_____________________________
C. Carl Randolph
Principal and General Counsel
______________________________
Name/Title
Neuberger Berman Management Inc.
By: :_____________________________
Michael Weiner
Senior Vice President
Neuberger Berman Guardian Portfolio,
a Series of Equity Managers Trust
By: :_____________________________
Michael Weiner
Vice President