The project window of S1 features prominently in the upper-left hand corner text boxes where one can enter the album name and artist name. Weirdly, the artist name seems to be entirely ignored -- is it just for aesthetic purposes? When rendering tracks, there is an option to include the artist name in the file name, and S1 also claims to include this data in the metadata (for file formats that support metadata).
However, the artist name in the project window is completely ignored in this situation. Instead, the artist name from each individual track is used, and if none is provided, a space is inserted instead. When creating an album where all of the tracks are from the same artist, this adds a bit of annoying extra work to open up each track's metadata and add the same exact artist name there. In my opinion this is a bug, but PreSonus support claims this is the intended behavior and recommended that I file a feature request here. 
The solution is simple -- if no artist name is provided for a specific song, then the artist name from the project should be used. If a song has an artist name, this should of course override the one set in the project.