It's 3 cycles for float multiplication (and 1 for shift right):

https://uops.info/table.html?search=mulss&cb_lat=on&cb_tp=on...

https://uops.info/table.html?search=shr&cb_lat=on&cb_tp=on&c...

In throughput it's even less of a difference: 2 per cycle vs 3 per cycle.