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Venator Materials PLC (NYSE: VNTR) shares remained relatively flat after the firm announced that it would be launching a secondary offering. The company is offering 18.0 million shares, with an overallotment option for an additional 4.0 million.

This company only came public in August 2017, but since that time the stock has more or less kept pace with the markets. Also while the markets are at all-time highs, now seems like as good a time as any to take some profits.

The underwriters for this offering are Merrill Lynch, Citigroup, Goldman Sachs and JPMorgan.

This leading global manufacturer and marketer of chemical products intends to improve the quality of life for downstream consumers and promote a sustainable future. Its products comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life and reduce energy consumption.

The company markets its products globally to a diversified group of industrial customers through two segments: Titanium Dioxide, which consists of its TiO2 business, and Performance Additives, which consists of its functional additives, color pigments, timber treatment and water treatment businesses.

Venator is a leading global producer in many of these key product lines, including TiO2, color pigments and functional additives, a leading North American producer of timber treatment products and a leading European producer of water treatment products. It operates 27 facilities, employs approximately 4,500 associates worldwide and sells its products in more than 110 countries.

The company will not receive any proceeds from this offering. Instead, all will go to the selling shareholders.

Shares of Venator were last seen at $23.13, with a consensus analyst price target of $28.31 and a 52-week range of $11.89 to $26.90.