Martin Marietta price target raised to $700 from $645 at Stephens

Stephens raised the firm’s price target on Martin Marietta (MLM) to $700 from $645 and keeps an Overweight rating on the shares. The firm notes the company announced it has entered into a definitive agreement with Quikrete for the exchange of MLM’s Midlothian Cement plant and North TX ready-mix assets for select Quikrete aggregates operations producing about 20 million tons annually, plus $450M in cash. Martin Marietta also acquired Premier Magnesia, on July 25, 2025. Stephens estimates the portfolio actions will be accretive to the company’s consolidated EBITDA margin. The firm would expect ASP for these aggregates assets to be below MLM’s average, with outsized pricing opportunity in these markets. Martin Marietta also reported preliminary Q2 results