Yes, you can apply various settings to a whole bunch of files in one go. Examples of these settings include:
Applying metadata
Moving files
Changing access permissions and editing rights
To do this, hold down Shift or Control (depending on whether files are sequential or not) to select the files you want to change in the library...
...keeping Shift/Control held down, select the 'File Options' (the dots) for one of the files you've chosen. Select File Metadata / Move File / File Access as appropriate and apply the changes you need.