JP Morgan Cuts MLM Price Target to $650

JP Morgan has reiterated its Overweight rating on Martin Marietta Materials with a new price target of $650, a 30.72% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:13 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

JP Morgan cut its price target on Martin Marietta Materials, Inc. ($MLM) to $650 from $680 on October 13, 2026, and rates the stock "Overweight".

Since the rating, $MLM is up 6.0% to date (from the $472.40 close on Oct 13, 2026).

MLM Martin Marietta Materials, Inc.

$500.84 -20.72% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, JP Morgan reiterated its Overweight rating on Martin Marietta Materials (MLM) and set a price target of $650, down from $680.
JP Morgan's $650 price target implies 30.72% upside from Martin Marietta Materials, Inc.'s ($MLM) current $497.25 share price.
As of October 16, 2026, Martin Marietta shares were recently trading around $497.25, which is about 23.5% below JP Morgan's target.
The company is scheduled to report its next earnings on November 3, 2026, after posting a revenue of $6.69 billion over the last twelve months.

Get $MLM trade alerts by text

We text you when insiders, Congress or big funds trade $MLM. Free.

Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Martin Marietta Materials, Inc. alert may contain errors. Disclosures

JP Morgan has reiterated its Overweight rating on Martin Marietta Materials, Inc. (MLM) with a new price target of $650, reduced from $680. This update came on October 13, 2026, and reflects the firm's ongoing confidence in the company despite the target adjustment.

The recent price target suggests that JP Morgan sees potential upside in Martin Marietta's stock, especially since it was trading at $497.25 as of October 16, 2026. This price is approximately 23.5% below the new target, signaling that analysts believe the stock could rise significantly from its current level.

Other Institutional Activity in Martin Marietta

Several other institutional investors have also been active in Martin Marietta. Blackrock Inc. holds 4,692,446 shares valued at about $2.35 billion, having increased its position by 6,560 shares. Vanguard Capital Management LLC has 3,929,705 shares worth approximately $1.97 billion, adding 12,144 shares recently. Vanguard Portfolio Management LLC owns 3,197,395 shares valued at $1.60 billion, with an increase of 36,977 shares. State Street Corporation has 3,159,639 shares worth around $1.58 billion, having gained 282,008 shares. Lastly, Bank of America Corporation has 2,446,762 shares valued at about $1.23 billion, with a recent addition of 47,035 shares.

Martin Marietta Materials, Inc. Stock Up 1.3%

Martin Marietta shares are currently trading at $497.25, which is below the new price target of $650 set by JP Morgan. This stock has been fluctuating, and being below the target could present opportunities for investors looking for potential growth as the company continues to perform well in the building materials sector.

12-month forecast

$MLM price target

Martin Marietta Materials, Inc. daily closes and this analyst's $650 target. Not advice.

Recent Earnings

In its latest reporting period, Martin Marietta generated a trailing twelve-month revenue of $6.69 billion, with a net margin of 36.7%. The company has shown robust growth, with a year-over-year revenue growth of 21.0%. It is scheduled to announce its next earnings on November 3, 2026, which will provide further insights into its financial health.

Insider Buying and Selling at Martin Marietta Materials, Inc.

Insider trading activity can often provide insight into how executives view the company's future, but in this case, no transactions have been noted.

Analysts Set New Price Targets

On October 5, 2026, Wells Fargo maintained its Overweight rating on Martin Marietta with a price target of $579, down from $585. Truist Securities also kept a Buy rating with a target of $625, reduced from $730. UBS maintained a Buy rating with a target of $662, lowered from $715. RBC Capital maintained a Sector Perform rating with a target of $530, down from $620. JP Morgan's recent target of $650 is now one of the higher estimates following these adjustments.

About Martin Marietta Materials

Martin Marietta Materials, Inc. is a leading supplier of aggregates and heavy-side building materials, primarily serving the construction industry in the U.S. and internationally. The company operates through its East Group and West Group segments, focusing on providing essential materials for infrastructure projects.

Bottom Line

Investors will be watching for Martin Marietta's upcoming earnings report on November 3, 2026, for further insights into its performance. With JP Morgan reaffirming its Overweight rating and setting a target of $650, the market will be keen to see how the stock performs relative to this outlook.