Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of industrial engineering firm Robbins & Myers (NYSE: RBN) look precision-crafted today, rising as much as 10.3% on extremely heavy trading.

So what: The third-quarter report, filed Wednesday morning, matched analyst targets on the bottom line while blowing away sales estimates. For an encore, Robbins & Myers raised full-year guidance, citing great sales of oilfield and pipeline services through recent acquisition T-3 Energy Services.

Now what: The stock has more than doubled over the last year, helped along by four straight top-notch reports. Robbins & Myers has refined its operations by buying into the oilfield industry and selling a pharmaceutical equipment subsidiary, and the changes have already improved the business considerably. This triumph is the company's own, not a sector effect, as market peers Colfax (NYSE: CFX) and Flowserve (NYSE: FLS) hardly moved on the news. Better yet, the second half of 2011 is shaping up even stronger for Robbins & Myers and its oilfield friends.

Interested in more info on Robbins & Myers? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.