BOSTON (Reuters) - Activist hedge fund Marcato Capital Management said on Thursday it has bought a 5.1 percent stake in crane manufacturer Terex Corp (N:TEX), marking its second big investment in a week.
In a filing with the U.S. Securities and Exchange Commission, San Francisco-based Marcato said the shares are undervalued and that it has already had discussions with the company's top managers.
Terex' stock rose 1.62 percent after Marcato made its filing on Thursday and has climbed 27 percent since January.
On Monday Marcato Capital Management announced a 5.1 percent stake in the Buffalo Wild Wings Inc (O:BWLD) restaurant chain, helping to send the stock price up some 17 percent this week.
Marcato's founder, Mick McGuire, who had previously worked as a partner at William Ackman's Pershing Square (NYSE:SQ) Capital Management, traditionally urges companies where he invests to allocate capital more wisely.