Dover, Kennametal, MRC Global too exposed to energy, Global Hunter says

• The pain caused by falling oil prices isn’t just for energy companies, as industrial companies with exposure to the industry also have started to sink under the strain: Dover (DOV +2.2%) shares have slipped 4.3% during the past month, while Kennametal (KMT -0.3%) has shed 8% and MRC Global (MRC -6.1%) has tumbled 12%.
• Seeing "potentially disastrous implications for U.S. energy and production companies and their suppliers," Global Hunter downgraded the three companies today; the firm says MRC has 46% exposure to U.S. upstream capex after previously estimated the company’s North American market share at ~24%, "exposing it broadly to the ups and downs of the broader market.”
• Earlier: Dover moves higher despite Goldman downgrade to Sell