Not automatically, unfortunately. Think about it this way: Picard only knows of the songs that are currently loaded into the program (a deliberate design decision to avoid needing a persistent database), so how would it distinguish between an artist who only has one song in your library, and a single track you’ve picked from one with many complete albums because that alone needed the update? What you can do, though, is create a dependency on a custom field that then switches the filing logic:
Miscellaneous single tracks/
$noop(file name pattern listing artist but not album info),
$noop(further logic to sort into albums, etc.)
Edit that to fit your own folders, obviously. You would still have to manually add the
%artistfolder% field to all the files that you want pulled, but at least you wouldn’t have to deal with moving them yourself and deleting the folders every time you update the tags.