A fastener assembly for attaching a fastener to an opening of a sheet material is disclosed. The sheet material is typically located adjacent to a base structure and the fastener assembly affords radial movement of the fastener relative to the opening of the sheet material. The radial movement allows the fastener to be aligned with a desired location on the base structure, e.g. a threaded aperture—after being attached to the sheet material. In this manner, the fastener assembly provides for the placement of the fastener in difficult to reach and/or see locations until it can be attached to the base structure.