MDU MDU RESOURCES GROUP INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in only 1/4 quarters. Q3 2024: $0M, Q2 2024: $0M, Q1 2024: $5M, Q3 2023: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $2M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Missing buyback or cash flow data

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

18 open-market purchases by 10 insiders

• KELLEY CHARLES M () bought 5,000 shares at $20.84 on 2026-02-13
• Vollmer Jason L (CFO) bought 5,000 shares at $16.07 on 2025-09-08
• Vollmer Jason L (CFO) bought 5,000 shares at $16.27 on 2025-08-19
• JOHNSON DENNIS W () bought 30,000 shares at $16.64 on 2025-02-10
• Johnson Rob L. (President-WBI Holdings) bought 36,291 shares at $25.46 on 2024-05-07
• Rosenthal Dale () bought 375 shares at $22.55 on 2024-03-12
• Vollmer Jason L (VP, CFO & Treasurer) bought 600 shares at $24.93 on 2020-11-11
• Vollmer Jason L (VP, CFO & Treasurer) bought 400 shares at $24.93 on 2020-11-11
• SPARBY DAVID M () bought 2,000 shares at $22.52 on 2020-08-20
• Link Margaret A (VP and CIO) bought 5,000 shares at $21.39 on 2020-05-18

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 0 of 4 quarters

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $2M, sold $8M (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected