Martin Marietta Materials

MLM · NYSE

$507.58+$5.93 (+1.18%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $501.65

MLM analyst rating

BuyConsensus of 16 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy12
Hold4
Underperform0
Sell0

12-month price target · 28 analysts

Average $666.13 (+31.2% upside)

Low: $453.29
Now: $507.58
High: $840.00

Upgrades and downgrades

The latest rating actions, newest first

MLM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Raymond James	Oct 16, 2026	Maintains	Outperform	$660.00 → $640.00	68%
JP Morgan	Oct 13, 2026	Maintains	Overweight	$680.00 → $650.00	83%
RBC Capital	Oct 9, 2026	Maintains	Sector Perform	$620.00 → $530.00	29%
UBS	Oct 8, 2026	Maintains	Buy	$715.00 → $662.00	57%
Wells Fargo	Oct 5, 2026	Maintains	Overweight	$585.00 → $579.00	55%
Truist Securities	Oct 5, 2026	Maintains	Buy	$730.00 → $625.00	53%
Citigroup	Oct 2, 2026	Maintains	Buy	$690.00 → $610.00	56%
Wells Fargo	Sep 21, 2026	Maintains	Overweight	$609.00 → $585.00	55%
Wells Fargo	Sep 9, 2026	Upgrade	Equal-Weight → Overweight	$581.00 → $609.00	55%
JP Morgan	Sep 2, 2026	Upgrade	Neutral → Overweight	$680.00	83%

The case for and against

Updated Oct 21, 2026

Bull case

Martin Marietta Materials is attractive because its core aggregates franchise benefits from scarce, local supply economics, roughly 200 million tons of 2025 production, and reserves equal to about 85 years of supply at that run-rate. The company’s shift toward higher-return aggregates, plus its expansion into lime through Lhoist North America, has strengthened its mix while reducing exposure to weaker cement and downstream businesses. Q1 showed the model’s operating leverage, with revenue up 17% to $1.4 billion, aggregates shipments up 12% to 43.9 million tons, and adjusted EBITDA up 14%, supported by rising prices, strong backlog conversion, and disciplined capital allocation.

Bear case

Martin Marietta Materials is facing a negative outlook because its earnings power is increasingly tied to a cyclical construction market while residential and light non-residential demand remain pressured by higher interest rates and no near-term improvement is expected. Even with record aggregates shipments of 43.9 million tons and revenue up 14% to $1,142 million, gross profit fell 3% to $288 million as mix shifted toward lower-ASP regions and acquired businesses, while a $22 million non-cash inventory fair value charge further diluted margins. Management’s 2026 guidance implies only modest organic pricing and volume gains amid volatile energy and demand conditions, and weather disruptions, environmental regulation, and greater exposure to lower-margin acquisitions could keep profitability uneven.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.