Is there any way to import a CD into iTunes and actually have it create its own "album"?

I'm probably doing it all wrong, but on my Mac I drag the image of the CD in iTunes onto the word Library, and iTunes then imports all the tracks.

Then I have to create a folder with the album name and drag all the tracks into it.

It would obviously be much handier if I didn't have to create a folder, but the system did it. Can it?