A Savage Axis shooting like that doesn't surprise me too much. Mine in .223 usually shoots under 1" @ 100yds, under 0.5" from time to time (all 5-shot groups). That's with handloads and either match or polymer tipped bullets though. My only issue is the pencil barrel heats up so fast.
It is very surprising to see MFS ammo do that. I have my doubts that different lots of the ammo can do that consistently; it may have just been a lot that the rifle really liked.
The only cheap ammo I've tried in mine is Tula and either 55gr or 62gr was somewhere around 4-5" @ 100yds.