WestRock Says It Bought More Than 3.7 Million Shares Of Its Stock Since November, Notes 'Disciplined And Balanced' Capital Allocation Strategy

WestRock Co WRK, a paper and packaging provider, reported after Tuesday's market close that the company has repurchased more than 3.7 million shares of its common stock since November 10. Shares of WestRock have lost more than 15 percent since the start of 2016 and have lost nearly 40 percent over the past year. WestRock's stock also hit a 52-week low of $37.90 during Tuesday's trading session. WestRock noted that the average price of its share repurchase was less than $45 per share and the majority of its purchases occurred after December 15, 2015. WestRock added that since July 1, 2015, it has repurchased 9 million shares under its 40 million share repurchase authorization.