Director Kelley buys 5,000 MDU shares at $20.84; holdings rise to 8,031 (+165.0%)
Director Charles M Kelley purchased 5,000 shares of MDU Resources at $20.84 on 2026-02-13, increasing his holdings from 3,031 to 8,031 shares—a 165.0% increase in position size. The transaction occurred at a price $0.57 above the current price of $20.27 and within 1.4% of the 52-week high of $21.33, suggesting the purchase was not executed at a clear valuation discount. MDU's fundamentals show significant headwinds: annual revenue contracted 62.2% year-over-year despite current quarterly revenue of $315.0M, while the P/E multiple of 24.42 sits elevated relative to historical norms for industrials. The substantial increase in Kelley's personal stake—from 3.0K to 8.0K shares—represents a material commitment, though the entry price and deteriorating growth trajectory warrant careful evaluation of the underlying investment thesis.