Raymond James Cuts MLM Price Target to $640

Raymond James has reiterated its Outperform rating on Martin Marietta Materials, adjusting its price target to $640, a 28.71% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:15 PM EDT

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Raymond James cut its price target on Martin Marietta Materials, Inc. ($MLM) to $640 from $660 on October 16, 2026, and rates the stock "Outperform".

MLM Martin Marietta Materials, Inc.

$500.84 -20.72% year to date

Daily close · Oct 16, 2026

Key Points

Raymond James reiterated its Outperform rating on Martin Marietta Materials, lowering its price target from $660 to $640 on October 16, 2026.
Raymond James's $640 price target implies 28.71% upside from Martin Marietta Materials, Inc.'s ($MLM) current $497.25 share price.
Martin Marietta shares recently traded around $497.25, which is about 22.3% below the new analyst target.
The company is set to report its next earnings on November 3, 2026, following a year-over-year revenue growth of 21%.

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

Raymond James has reiterated its Outperform rating on Martin Marietta Materials, Inc. (NYSE: MLM) and adjusted its price target to $640 from $660 on October 16, 2026. This change reflects the firm's updated outlook for the company in the building materials sector.

Martin Marietta shares recently traded at about $497.25, which is approximately 22.3% below the new price target set by Raymond James. This indicates a potential upside if the stock moves closer to the analyst's expectations.

Analyst rating track record

Raymond James vs. the S&P 500

YTD return -2.84% hypothetical

All-time return -2.84% S&P 500 +1.68%

vs. S&P 500 -4.52% behind the index

Hypothetical returns from Raymond James's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Martin Marietta Materials

Several other institutional investors have held steady in their positions in Martin Marietta. Blackrock Inc. has 4,692,446 shares valued at about $2.35 billion, while Vanguard Capital Management LLC holds 3,929,705 shares worth around $1.97 billion. Additionally, Vanguard Portfolio Management LLC increased its holdings by 36,977 shares, bringing its total to 3,197,395 shares valued at approximately $1.60 billion. State Street Corporation also reported 3,159,639 shares, worth about $1.58 billion. Bank of America Corporation rounded out this group with 2,446,762 shares valued at roughly $1.23 billion.

Martin Marietta Materials, Inc. Stock Up 1.3%

The stock is currently trading significantly below the analyst target, which may affect investor sentiment. The recent trading price of $497.25 is a key indicator as the company prepares for its upcoming earnings report.

12-month forecast

$MLM price target

Martin Marietta Materials, Inc. daily closes and this analyst's $640 target. Not advice.

Recent Earnings

For the trailing twelve months, Martin Marietta reported revenue of approximately $6.69 billion, with an EPS of $15.36. The company's net margin stands at 36.7%, and it has a return on equity of 8.9%. The next earnings report is scheduled for November 3, 2026.

Dividend

Martin Marietta pays an annual dividend of $3.36 per share, yielding about 0.7%, with a payout ratio of 21.6%.

Analysts Set New Price Targets

On October 5, 2026, Wells Fargo maintained an Overweight rating with a price target of $579. On October 8, UBS also maintained a Buy rating but lowered its target from $715 to $662. RBC Capital maintained a Sector Perform rating with a target of $530, while JP Morgan kept an Overweight rating with a target of $650, down from $680. Raymond James' recent target adjustment is part of a broader trend among analysts, reflecting varying outlooks on the stock.

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, providing essential materials for various construction projects.

Bottom Line

Investors should keep an eye on the upcoming earnings report on November 3, 2026, as well as any further changes in analyst ratings and price targets. Raymond James' recent rating and target adjustment highlights the ongoing evaluations of Martin Marietta's market position.