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Church & Dwight Co., Inc. (NYSE: CHD) shares moved marginally higher after CNBC's Jim Cramer recommended the stock on his Mad Money Lightning Round. The hedge fund manager turned television star believes that the stock is cheap at these levels and recommends purchasing the stock below $60 per share. Cramer noted that the stock is relatively risky and may not be right for some people, but it is definitely cheap at these levels.

During its latest quarter, Church & Dwight reported a 13% rise in quarterly profits, which beat market estimates, driven by strong organic revenue growth and improved gross margins. Pricing increases in condoms and baking soda helped to improve both of these metrics. The firm also raised its full year guidance for 2008, citing continuing bullish trends. The company reported earnings of 66 cents per share compared to analyst estimates of 63 cents per share.

Church & Dwight develops, manufactures and markets a range of household, personal care and specialty products under brand names, including Arm & Hammer and Trojan. The consumer domestic segment includes household products for deodorizing and cleaning, such as Arm & Hammer baking soda and cat litter, and Scrub Free and Brillo cleaning products; and laundry products, such as Xtra and Arm & Hammer laundry detergents, Oxiclean pre-wash laundry additive and personal care products in international markets.

Church & Dwight shares dropped $0.03, or 0.05%, to $60.80 during mid-day trading.

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